Iveco and Tata. It’s done!

Iveco and Tata are getting married. This article was originally conceived to give resonance to Iveco’s press release, which legitimized the rumors. However, a subsequent press release, issued today, Wednesday, July 30th, has put the seal on the matter.

Below you will find the official statement announcing the sale of the Iveco Group to Tata Motors. At the bottom of the page, for completeness, you’ll find this article as it was originally conceived. ‘According to Bloomberg, the announcement of the closing could be imminent. Even as early as tomorrow, Wednesday, July 30, 2025.’ This is what we noted in the original draft.

The Official Press Release from Iveco

Iveco Group N.V. (“Iveco Group” or “Iveco”) (EXM: IVG), a European leader in commercial vehicles and mobility, and Tata Motors Limited (“Tata Motors”) (NSE: TATAMOTORS), a global automotive leader, announce that they have reached an agreement to create a commercial vehicles group with the reach, product portfolio and industrial capability to be a global champion in this dynamic sector.

The envisaged recommended voluntary tender offer (the “Offer”) will be made by TML CV Holdings PTE LTD or a new limited liability company to be incorporated under Dutch law (the “Offeror”), which will be wholly owned, directly or indirectly, by Tata Motors. The completion of the offer is conditional, inter alia, on the separation of Iveco’s defence business and, as such, the public offer is for all issued common shares of Iveco Group after the separation of that business, at a price of EUR 14.1 (cum dividend, excluding any dividend distributed in relation to the sale of the defence business) per share in cash (the “Offer Price”).

The offer would bring together two businesses with highly complementary product portfolios and capabilities and with substantially no overlap in their industrial and geographic footprints, creating a stronger, more diversified entity with a significant global presence and sales of over c.540k units per year. Together, Iveco and the commercial vehicle business of Tata Motors will have combined revenues of c.€22bn (INR 2,20,000Cr+) split across Europe (c.50%), India (c.35%) and the Americas (c.15%) with attractive positions in emerging markets in Asia and Africa.

According to Bloomberg

Turin, July 29, 2025. In relation to recent press reports, Iveco Group (EXM: IVG; the “Company”) confirms that advanced discussions are underway for potential operations concerning, on the one hand, the defense sector, and on the other, the remaining Company.

In accordance with its duties, the Company’s Board of Directors (the “Board”) is carefully analyzing and evaluating all aspects of these potential operations. In doing so, the Board gives due consideration to the interests of Iveco Group and all its stakeholders, including shareholders, employees, and customers, and will keep the market informed in accordance with applicable regulations.

According to the New York society, the communication of the closing could be imminent. As early as tomorrow, Wednesday, July 30, 2025.