Globally on the Move Tata Motors has Acquired the Commercial Vehicle Manufacturer Iveco

Source: Tata Motors | Translated by AI 1 min Reading Time

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With the acquisition of Iveco, Tata Motors aims to combine the expertise of both companies to strengthen and expand the commercial vehicle business globally ...

Tata Motors has acquired Iveco. Read here what this means for the future of the commercial vehicle industry ...(Image: Iveco)
Tata Motors has acquired Iveco. Read here what this means for the future of the commercial vehicle industry ...
(Image: Iveco)

The Iveco Group, known as a European market leader in commercial vehicles and mobility, and Tata Motors Ltd. announce that they have reached an agreement to create a commercial vehicle alliance with the reach, product portfolio, and capability to become a global champion in this dynamic sector. The proposed recommended, and voluntary, takeover offer will be made by TML CV Holdings PTE Ltd. or a new private limited liability company to be established under Dutch law. This company will be fully and directly or indirectly owned by Tata Motors. The completion of the offer is subject, among other conditions, to the separation of the defense segment from Iveco. Therefore, the public offer applies to all issued ordinary shares of the Iveco Group after this business's separation. This will be at a price of 14.1 euros per share (approx. 16 USD, gross dividend, excluding any dividend paid in connection with the sale of the defense business). The offer represents a total liability of approximately 3.8 billion euros (approx. 4.4 billion USD) for Iveco (excluding the defense segment and the net proceeds from the separation of the defense business).

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