Come alive the transition of Iveco Group under the control of Tata MotorsThe voluntary public purchase offer launched by the Indian group on all the ordinary shares of the Italian company starts today, September 7th. price The offer, launched through TML CV Holdings, a wholly-owned subsidiary of Tata Motors, will remain open until further notice. open until October 26thThe goal is to conquer 100% of Iveco's capital and subsequently proceed with its delisting from Euronext Milan.
The scope of the operation with Tata Motors includes the commercial vehicle sector. The defense activities have already been sold to Leonardo, which in March completed the acquisition of the business including the IDV and Astra brands for 1,6 billion euros.
From the ECB to Consob, the approval process has been completed.
The final green light needed to open the offer has arrived Friday from Consob. With the authorization of the Italian authority, the regulatory process that had accompanied the operation announced in July 2025 was concluded. A few days earlier, the clearance from the European Central Bank, relating to the indirect acquisition of qualifying shareholdings in IC Financial Services and CNH Industrial Capital Europe, both authorised in France as specialised credit institutions.
The process also involved the United Kingdom and Spain. On January 5, 2026, the British Financial Conduct Authority approved the change of control of Iveco Retail Limited and IC Financial Services UK Limited. On June 24, the Bank of Spain authorized the acquisition of a qualifying indirect stake in Transolver Finance.The takeover bid will be conducted in Italy and extended to the United States. in compliance with US regulations, maintaining the same conditions for all shareholders.
Exor is already lined up, the Board of Directors invites everyone to join
Tata Motors can count on the support of the main shareholder by Iveco. Exor, the holding company of the Agnelli-Elkann family, has made an irrevocable commitment to join the takeover bid with your own share, equal to approximately 27,06% of the ordinary shares and 43,19% of the voting rights. Iveco's board of directors also unanimously expressed its support for the transaction, urging shareholders to accept the offer. The board also recommended approving the resolutions related to the tender offer at the extraordinary meeting called for October 16.
La minimum threshold The initial target for the successful offering is 95% of the shares. This level will automatically drop to 80% if the extraordinary meeting approves the back-end resolution required by the transaction structure.
Unless extended, the payment of the consideration will take place on November 13. If the conditions established by law are met, the offering will be reopened for another five trading sessions, from November 2 to 6.
Iveco-Tata: A global commercial vehicle giant is born
The merger between Iveco and Tata Motors' commercial vehicles operations aims to create a stronger group on international markets, leveraging portfolios and skills considered complementary. Industrial and geographical overlaps are limited, while the new entity will be able to count on sales exceeding 590 thousand vehicles per yearAggregate revenues reach approximately €21 billion. 46% comes from Europe, 32% from India, 8% from South America, and the remaining 14% from other markets. Iveco's consolidated presence in Europe is thus complemented by Tata Motors' influence in emerging markets, especially in Asia and Africa.
“The launch of the tender offer represents an important milestone in the integration process between two highly complementary organizations, united by a strong commitment to excellence, innovation and customer success,” said Girish Wagh, CEO of Tata Motors – “By combining our respective strengths, expertise and market presence, we have the opportunity to create a stronger and more globally competitive commercial vehicle company, better positioned to serve customers, invest in future technologies and generate sustainable value for all stakeholders.”
