Consob approves Tata Motors’ Iveco tender offer; acceptance opens September 7

Italy’s market regulator Consob has approved the offer document for Tata Motors’ voluntary tender offer to acquire all common shares of commercial vehicle manufacturer Iveco Group, allowing the acceptance process to begin from September 7.The approval has brought the deal closure to its conclusion. Tata Motors is preparing for a major overhaul of its commercial vehicle business with the acquisition of Iveco. The deal is expected to become a key pillar of its global expansion plans. The transaction, valued at around €3.8 billion ($4.4 billion), includes Iveco’s commercial vehicle operations while excluding its defence business. Tata Motors Gets Italy Regulator Nod For Iveco Takeover Offer, Tender Window Opens September 7To create one of world’s largest CV manufacturersThe acquisition could create one of the world’s largest commercial vehicle manufacturers, with the combined entity expected to sell more than 5.4 lakh vehicles annually and generate revenue of around €22 billion. The merger would also provide Tata Motors with a wider geographical footprint across Europe, India and the Americas.The acquisition will give Tata Motors access to Iveco’s established sales and service network, especially in Europe and Latin America. It will also add manufacturing capabilities in markets such as Brazil and Argentina, while opening opportunities to introduce Tata-branded commercial vehicles through Iveco’s distribution channels.The deal could also allow Tata Motors to evaluate selected Iveco products for the Indian market. Girish Wagh, managing director and chief executive officer of Tata Motors’ commercial vehicle division, has indicated that models such as prime movers and the Iveco Daily range could potentially be introduced in India.The acquisition marks a shift from Tata Motors’ traditionally India-focused commercial vehicle strategy towards becoming a globally diversified player. The company expects the deal to improve sourcing efficiencies, expand technology access and strengthen manufacturing utilisation.Beyond the acquisitionAlong with the Iveco transaction, Tata Motors is pursuing initiatives in alternative fuels, digital platforms and connected mobility. The company is working on pilot projects involving diesel blended with 2% isobutanol in collaboration with HPCL and government agencies.The automaker is also investing in artificial intelligence-based logistics solutions and connected vehicle technologies aimed at improving fleet efficiency and customer engagement.Tata Motors is targeting a 40% share of India’s commercial vehicle market by FY28, along with double-digit EBITDA margins and stronger cash generation.The deal represents more than an expansion in vehicle volumes. It is a strategic move aimed at transforming Tata Motors from India’s leading commercial vehicle manufacturer into a global industry player.

Tata Motors to pay €14.10 per common share of Iveco Group, including dividend, to shareholders; acceptance period opens September 7

Italy’s market regulator Consob has approved the offer document for Tata Motors’ voluntary tender offer to acquire all common shares of commercial vehicle manufacturer Iveco Group, allowing the acceptance process to begin from September 7.The offer is being made through TML CV Holdings, an indirect wholly owned subsidiary of Tata Motors. The company has offered €14.10 per Iveco share on a cum-dividend basis, according to a stock exchange filing.Iveco shareholders get October deadline for tender offerIveco shareholders will have the opportunity to tender their shares between September 7 and October 26, unless the offer period is extended. Investors who accept the offer during this period are expected to receive payment on October 30, which is the fourth trading day after the closure of the offer.Tata Motors Targets 1 Million CV Sales; Iveco Integration To Boost Global Expansion Subject to regulatory requirements, the acceptance period could reopen for an additional five trading days from November 2 to November 6. Payments for shares submitted during this extended period are expected to be completed on November 13.Tata Motors said it will issue a separate communication regarding the publication and distribution of the offer document, along with details on the process shareholders need to follow to participate.Acquisition process moves ahead after regulatory approvalThe tender offer will be launched in Italy and extended to shareholders in the US in line with applicable securities regulations. However, the offer will not be made in countries such as Canada, Japan and Australia, or other jurisdictions where additional regulatory approvals would be required. The approval from Consob represents a significant procedural milestone in Tata Motors’ planned acquisition of Iveco Group, which was announced in July 2025. The transaction is being executed through Tata Motors’ commercial vehicle holding entities.The tender offer remains subject to the terms, conditions and regulatory requirements specified as part of the deal.The acquisition of Iveco is expected to strengthen Tata Motors’ position in the global commercial vehicle market by expanding its international presence and product portfolio. The completion of the transaction will depend on shareholder participation and fulfilment of the required conditions.