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Italian market regulator CONSOB has given approval to the offer document of a Tata Motors Ltd step-down subsidiary for the acquisition of common shares of Italian truck maker Iveco Group NV for Euro 14.10 a share including dividend.
The voluntary offer will open on September 7, 2026 and will end on October 26, 2026, unless extended. If the legal formalities complete the offer will reopen for 5 days in early November 2026 as per an exchange filing.
With this the formalities of the acquisition is nearing completion.
The acquisition is being done by TML CV Holdings B.V, a wholly owned subsidiary of TML CV Holdings Pte. Ltd., which is a wholly owned subsidiary of Tata Motors Ltd.
In July 2025 the Tata Motors subsidiary had signed an agreement to acquire Iveco Group N.V. for ₹38,000 crore ($4.5 billion).
This will be Tata Motors’ biggest acquisition, once complete.
Together, Iveco and the commercial vehicle business of Tata Motors will have combined revenue of ₹2,20,000 crore split across Europe, India and the Americas with access to markets in Asia and Africa.
Tata Motors had offered to acquire 100% of Iveco’s common shares with a subsequent delisting of Iveco Group from Euronext Milan.
Tata Motors will be able to achieve full ownership of Iveco through a pre-agreed transaction upon reaching 80% in the Offer.
Upon successful completion of the offer, two members of the Iveco Board will serve as independent board members and will monitor compliance with, amongst other things, the Non-Financial Covenants (NFC).
Iveco Group’s headquarters will remain in Turin, Italy.
Iveco Group, together with its subsidiaries, will continue to have its own operating and reporting structure, with the Iveco Board managing the Iveco Group and its businesses.
The Board of Iveco will continue to drive decisions for long-term growth and the competitiveness of the business.
At the time of signing, the deal was expected to close in Q2 2026.
Published – September 04, 2026 03:10 pm IST
