Tata Motors Completes Iveco Takeover With 89.42% Stake, Buyout Continues

Business Standard · business

Tata Motors has completed the initial settlement of its tender offer for Iveco Group, acquiring an 89.42 per cent stake and bringing the European commercial vehicle maker under its control. The acquisition, conducted through a subsidiary, involved 238.16 million shares at €14.40 each, making Iveco an indirect subsidiary. Despite opposition from some minority shareholders regarding valuation, Tata Motors increased its offer price earlier this month. The company will reopen the tender offer for remaining minority shareholders, with further details on the post-offer process to be announced.