Tata Motors secures Iveco majority stake, creating global CV powerhouse

Tata Motors completed the initial settlement of its voluntary cash tender offer for Iveco on Tuesday, acquiring a controlling stake in the Italy-based commercial vehicle manufacturer for approximately €3.43 billion. Under the terms of the offer, Tata Motors paid €14.4 per share in cash for Iveco's common shares. The transaction transforms Iveco into an indirect subsidiary of the Indian automotive group.

The combined entity will rank as the world's fourth-largest commercial vehicle maker by revenue, generating approximately €21 billion annually. Iveco currently operates 16 manufacturing facilities and 22 research and development centres globally, employing 33,000 people. The acquisition represents Tata Motors' most significant international expansion since its 2008 purchase of luxury automaker Jaguar Land Rover from Ford.

The tender offer acceptance period has concluded, though shareholders will have another opportunity to tender their shares during a five-day reopening window scheduled from November 2 to November 6, 2026. The transaction underscores Tata Motors' strategy to strengthen its position in the commercial vehicle segment and expand its global manufacturing footprint through strategic acquisitions.