Tata Motors has completed the initial settlement of its tender offer for Iveco Group, with its indirect wholly owned subsidiary, TML CV Holdings B.V., acquiring 89.42% of Iveco Group’s common share capital.

Following the completion of the settlement on October 30, Iveco Group has become part of Tata Motors, marking a significant step in the company’s global commercial vehicle expansion.

The acquisition brings together two businesses with complementary product portfolios and capabilities, with limited overlap in their industrial and geographical footprints. The combination is expected to create a stronger, more diversified commercial mobility business with a significant global presence.

Under the tender offer, Tata Motors acquired 238,157,212 common shares of Iveco Group at €14.40 per share in cash.

The tender offer will reopen for five trading days from November 2 to 6, 2026, allowing shareholders who have not yet tendered their shares to participate. Settlement of shares tendered during this period is scheduled for November 13, 2026.

Further steps following the offer, including the possible purchase of remaining shares and other procedures, will be communicated in due course.

Iveco Group is an international commercial vehicle and mobility company with a strong Italian heritage. Its portfolio includes IVECO trucks, FPT powertrain technologies, IVECO BUS and HEULIEZ buses and coaches, and IVECO CAPITAL financial services.

The Group employs around 33,000 people and operates 16 industrial sites and 22 research and development centres.

The acquisition is expected to strengthen Tata Motors’ global commercial vehicle business by combining the strengths of both companies across products, technologies and markets.

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