Business · India Bureau
Italian regulator approves Tata Motors' €14.10 bid for Iveco stake
Italy's market watchdog has cleared the way for Tata Motors' subsidiary to acquire a significant shareholding in commercial vehicle maker Iveco at €14.10 per share. The tender offer will run through late October with settlement expected by month-end.
LSN India ·
TML CV Holdings, a subsidiary of Tata Motors, has received regulatory approval from Italy's financial markets regulator to proceed with its tender offer for shares in Iveco Group N.V., the Italian-headquartered commercial vehicle manufacturer.
Under the approved offer terms, shareholders will be invited to sell their Iveco shares at €14.10 per share. The initial acceptance period for the tender offer will commence on September 7 and conclude on October 26, providing investors with nearly two months to participate in the transaction.
Settlement of the share purchase is scheduled for October 30, marking the completion of share transfers for accepting shareholders. The regulatory clearance represents a significant milestone in Tata Motors' strategic expansion into the European commercial vehicle sector through its interest in Iveco.
The tender offer comes as part of Tata Motors' efforts to strengthen its global footprint in the commercial vehicle business, a key segment for the Indian automotive conglomerate. Iveco, with its established presence in Europe and other markets, provides Tata with access to advanced technologies and distribution networks in the commercial vehicle space.