Completed · Italy · Industrial machinery
Tata Motors takes a majority stake in Iveco Group.
Tata Motors, the Mumbai-based commercial vehicle maker, completed settlement of its all-cash tender offer for Iveco Group on 30 October 2026, taking about 89.42% of the Turin-based truck, bus and powertrain group, which has become part of Tata Motors. The deal was agreed on 30 July 2025; Iveco's defence business was sold separately to Leonardo in March 2026 and is not part of it. The deal completed on 30 October 2026.
SigningDay 100
Signing 30 July 2025 · Day 100 on 7 February 2027
- Buyer
- Tata Motors Limited (through TML CV Holdings B.V.) ·Mumbai, India
- Target
- Iveco Group N.V. ·Turin, Italy
- Type
- Majority stake
- Announced
- 30 July 2025
- Signed
- 30 July 2025
- Completed
- 30 October 2026
- Value
- EUR 14.40 per share (tender offer)
- People
- 33,000
- Last checked
- 2 November 2026
The people side in Italy
- In a business transfer involving more than 15 workers, seller and buyer give the unions written notice at least 25 days before completion or any earlier binding agreement. Law 428/1990, article 47
- If the unions ask in writing within seven days, seller and buyer open a joint examination within seven days; consultation ends after ten days without agreement. Law 428/1990, article 47
- A non-EU buyer taking control of an Italian company holding strategic assets, such as in energy, transport or communications, notifies the government within ten days; the government has 45 days to act. Decree-Law 21/2012 (golden power), article 2
- Where combined Italian turnover exceeds EUR 595 million and at least two parties each exceed EUR 36 million in Italy, the deal must be notified to the competition authority (AGCM). AGCM: Soglie di fatturato (turnover thresholds), updated 16 March 2026
- Where the deal needs EU merger clearance, the buyer may not implement it before clearance. EU Merger Regulation (Council Regulation (EC) No 139/2004), article 7
Sources
- Tata Motors and Iveco Group joint press release (ivecogroup.com), initial settlement of the tender offer, 30 October 2026 (primary source)
- Iveco Group and Tata Motors joint press release (PDF on ivecogroup.com), agreement and recommended offer, 30 July 2025
- Iveco Group press release, transfer of the defence business to Leonardo, 18 March 2026
- Iveco Group press release (PDF), offer price raised to EUR 14.40, 9 October 2026
Related deals
DateBuyer and targetStageSigning to Day 100People
- 30 Oct
CIRCOR International, Inc.to
Green Silence Group S.p.A.deal page: CIRCOR agrees to acquire Green Silence GroupSignednot statedSigningDay 100 - 19 OctPlatinum Equity, LLCtoTrimedeal page: Platinum Equity agrees to acquire a majority stake in TrimeSignednot statedSigningDay 100
- 3 Nov
Autoliv, Inc.toMCF Safety Belts S.r.l.deal page: Autoliv acquires MCF Safety BeltsCompletedabout 60SigningDay 100 - 2 NovTeqnion ABto
Tecflo Limiteddeal page: Teqnion acquires TecfloCompletedaround 20SigningDay 100