Tata Motors Completes €3.43 Billion Iveco Takeover, Secures 89.42% Stake

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HomeFleet & EquipmentTata Motors Completes €3.43 Billion Iveco Takeover, Secures 89.42% Stake Fleet & Equipment Tata Motors Completes €3.43 Billion Iveco Takeover, Secures 89.42% Stake By Skhumbuzo Masiko 33 minutes ago 0 13 Share FacebookXPinterestWhatsApp Tata Motors has secured an 89.42% stake in Iveco following the initial settlement of its takeover offer. India’s Tata Motors has taken control of Italian truck manufacturer Iveco Group after completing the initial settlement of its €3.43 billion takeover offer, securing an 89.42% stake in the European commercial vehicle manufacturer.

The milestone was confirmed on Friday, 30 October 2026, following the transfer of 238,157,212 Iveco shares to Tata Motors’ acquisition subsidiary, TML CV Holdings B.V.

The acquisition marks the completion of a major step in Tata Motors’ international expansion and brings one of Europe’s established truck manufacturers under the control of the Indian automotive group.

The shares were acquired at €14.40 each, following an increase in Tata Motors’ original offer price of €14.10 per share earlier in October.

According to the companies’ joint announcement, the initial settlement means Iveco has officially become part of Tata Motors.

The takeover story first emerged in July 2025 when Reuters reported that Tata Motors had approached Exor, the investment company controlled by Italy’s Agnelli family, about acquiring its controlling stake in Iveco.

At the time, Exor held a 27.1% stake in Iveco, carrying 43.1% of the voting rights.

The negotiations eventually progressed into a formal takeover offer, with Tata Motors seeking to acquire all of Iveco’s outstanding ordinary shares.

The offer was launched in September 2026 at €14.10 per share before being increased to €14.40 in October.

By the time the acceptance period closed on 26 October, shareholders had tendered 238.16 million shares, representing approximately 87.81% of Iveco’s share capital.

Including the treatment of Iveco’s treasury shares, Tata Motors’ resulting holding stood at 89.42% of the company’s share capital, excluding treasury shares.

The final consideration for the shares tendered during the initial offer period amounted to approximately €3.43 billion.

The takeover covers Iveco’s commercial vehicle operations, including its truck, bus and powertrain businesses, but excludes its defence division.

The defence business was separated from Iveco as part of the transaction process and transferred to Italian defence company Leonardo in March 2026.

This separation helped clear an important obstacle to the acquisition, as Iveco’s involvement in the defence industry had previously complicated potential takeover deals because of Italy’s national strategic interests.

Iveco’s commercial vehicle operations include a broad range of trucks and buses, as well as powertrain technologies and related services.

Although Tata Motors has secured control of Iveco, the process of acquiring the remaining shares is not yet complete.

The takeover offer will reopen from 2 to 6 November 2026, giving shareholders who did not accept the initial offer another opportunity to sell their shares at €14.40 each.

Payment for shares accepted during this additional period is scheduled for 13 November.

Tata Motors has also indicated that further procedures may follow to acquire the outstanding minority shares and eventually remove Iveco from the stock exchange.

The completion of the initial settlement has also brought changes to Iveco’s leadership.

Tata Sons chairman N. Chandrasekaran has been appointed Iveco’s chairperson and senior non-executive director.

Tata Motors executives P.B. Balaji and Girish Wagh have also joined Iveco’s board as non-independent directors.

Olof Persson will remain as Iveco’s chief executive officer.

The acquisition brings together Tata Motors’ commercial vehicle operations and Iveco’s established European manufacturing and distribution network.

For the global trucking industry, the development creates a new chapter for the Italian truck manufacturer, which will now operate under the ownership of one of India’s largest automotive groups