Italy / India – Commercial vehicle manufacturer, Iveco Group N.V. (Iveco), registered in Amsterdam, Netherlands, and with its headquarters in Turin, Italy (Iveco SpA) and automotive and industrial conglomerate, Tata Motors Ltd (Tata Motors) of Mumbai, India have reached an agreement for Tata Motors to buy Iveco and “to create a commercial vehicles group with the reach, product portfolio and industrial capability to be a global champion in this dynamic sector.”

The Iveco Group Board has recommended Tata Motors’ all-cash voluntary tender offer for Iveco Group common shares. (The “Offer” is to be made by either TML CV Holdings Pte Ltd or a new limited liability company to be incorporated under Dutch law,  which will be wholly owned, directly or indirectly, by Tata Motors). The completion of the offer is conditional on the separation of Iveco's defence business unit. The public offer is for all issued common shares of Iveco Group after the separation of that business at a price of EUR 14.1 per share in cash (the “Offer Price”). The Offer represents a total consideration of approximately EUR 3.8 billion for Iveco Group, excluding Iveco's defence business and the net proceeds from the defence business separation.

In a separate announcement yesterday, Iveco announced it has found a buyer for its Defence Business.

The Iveco Group also announced second quarter results for the calendar year 2025, which reported that all financial measures remained positive despite all being slightly below that of the same quarter in 2024.