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Tata Motors Opens Iveco Takeover Tender After Regulatory Approvals
Tata Motors wants to buy a company called Iveco Group, which makes commercial vehicles.
The deal is worth about €3.82 billion.
Iveco shareholders can begin deciding whether to sell their shares on September 7.
Exor, Iveco’s biggest shareholder, has already agreed to support the deal with its 27.06% stake.
Tata needs many more shareholders to accept the offer to gain control.
If Tata reaches 80% ownership, it may be able to take Iveco private and remove it from the Milan stock exchange.
Iveco’s board says the price is fair and the business combination could help both companies grow.
The main offer ends on October 26.
Tata Motors’ €3.82-billion offer for Iveco Group opens to shareholders on September 7.
Iveco’s largest shareholder, Exor, has committed its 27.06% stake to the offer.
Tata needs support from nearly three-quarters of Iveco’s remaining public shares to reach 80%.
Iveco’s board and independent directors, along with Goldman Sachs and Rothschild & Co, judged the €14.10 offer financially fair.
The tender closes October 26, with a possible secondary acceptance window in November.
- Who
- Tata Motors, Iveco Group shareholders, and Exor, Iveco’s largest shareholder.
- What
- Tata Motors is seeking shareholder acceptance for its €14.10-per-share takeover offer for Iveco Group.
- Where
- Iveco is headquartered operationally in Turin, Italy, and is listed on Euronext Milan.
- When
- The tender opens September 7, 2026, and closes October 26 at 5:30 p.m. CEST; a secondary window is scheduled for November 2–6.
- Why
- Tata seeks to combine the companies’ commercial-vehicle businesses, gain scale, and potentially acquire full operational ownership of Iveco.
Key facts
- Offer value
- Approximately €3.82 billion
- Offer price
- €14.10 per Iveco share
- Exor commitment
- 27.06% of Iveco’s shares
- Key ownership threshold
- 80%, if Iveco’s October 16 back-end resolutions are approved
- Initial tender period
- September 7 to October 26, 2026
- Combined annual sales
- More than 590,000 vehicles
- Combined revenue
- Approximately €21 billion
- Iveco workforce
- About 33,000 employees across 16 industrial sites and 22 research and development centres
Quotes
Olof Persson
Iveco Group Chief Executive
“The commencement of the tender offer marks an important milestone”
thehindubusinessline.com
“a stronger, more globally competitive commercial vehicle business”
thehindubusinessline.com
Sources
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