Tata Motors has finalized the initial settlement stage for its acquisition of Iveco, securing an 89.42 percent stake through its Dutch subsidiary, TML CV Holdings. The transaction, valued at approximately €3.91 billion, follows a voluntary takeover offer where shareholders were invited to sell at €14.40 per share.
The acquisition process remains ongoing, with a secondary acceptance period for remaining shareholders ending on 6 November. The company reports an 87.8 percent acceptance rate, surpassing the 80 percent threshold set during the Iveco general meeting on 16 October. Final settlement for this period is scheduled for 13 November.
The new leadership structure features Natarajan Chandrasekaran as Chairman of the Board, while former Iveco CEO Olof Persson transitions to the role of Executive Director. Damiano Cretarola assumed the position of CFO on 2 November. Tata Motors has committed to maintaining Iveco's headquarters in Turin and preserving existing jobs and production facilities.
The merged entity targets annual sales exceeding 540 000 vehicles and projected revenues of €22 billion. Operations will be geographically distributed with 50 percent in Europe, 35 percent in India, and 15 percent in the Americas. The partnership aims to accelerate the development of emission-free transport solutions through shared industrial capacities.
