Italian Regulator Approves Tata Motors' €3.8 Billion Tender Offer to Acquire Iveco Group
Italian financial regulator Consob has officially approved the tender offer document submitted by Tata Motors’ subsidiary, TML CV Holdings B.V., for the acquisition of Italian commercial vehicle manufacturer Iveco Group N.V. The regulatory clearance marks the final major approval required for the ambitious €3.8 billion (approximately ₹38,000 crore or $4.4 billion) takeover bid.
Under the terms of the approved offer, Tata Motors will pay €14.10 per common share in cash on a cum-dividend basis to Iveco Group shareholders. The official acceptance period for the voluntary tender offer will open on September 7, 2026, and close on October 26, 2026, with payments to tendering shareholders scheduled for October 30, 2026. The acquisition has already secured critical clearances from major global monetary and financial authorities, including the European Central Bank, the UK Financial Conduct Authority, the Bank of Spain, and the Securities and Exchange Board of India (SEBI).
The transaction enjoys unanimous support from Iveco Group's board of directors and its largest single shareholder, Exor N.V., which holds 27.06% of common shares and 43.19% of voting rights. Once completed, the acquisition will create a global commercial vehicle titan with combined annual revenues of around ₹2,20,000 crore across Europe, India, the Americas, Asia, and Africa. Iveco will continue to operate as a privately owned entity headquartered in Turin, Italy, preserving its operational structure while benefiting from Tata Motors' global scale and technology integration.
