Tata Motors completes takeover of Iveco Group

Tata Motors has officially completed the initial settlement of its takeover of Iveco Group, creating the world’s fourth largest commercial vehicle manufacturer by volume. The Indian automotive giant secured 89.42 percent of Iveco’s common share capital through a cash offer of 14.40 euros per share, a move that follows a price increase from the original 14.10 euros to attract more shareholders.

The combined enterprise is expected to generate approximately 21 billion euros in revenue, with annual sales of around 590,000 units. The new group will employ over 73,000 people and operate across more than 130 countries, utilizing 27 production sites and 25 research and development centers.

Iveco Group will maintain its headquarters in Turin, Italy, preserving its brand identity, industrial presence, and workforce. The integration aims to leverage complementary product portfolios, combining Tata’s strength in emerging markets and smaller vehicles with Iveco’s expertise in light, medium, and heavy commercial vehicles, as well as advanced powertrains including electric and hydrogen technologies. N. Chandrasekaran, Chairman of Tata Sons and Tata Motors, will also serve as the chairperson of Iveco Group.