Tata Motors Subsidiary Reaches 96.29% Stake in Iveco Group

TMCV Tata Motors informed the exchanges on Saturday, 7 November, that its indirect wholly owned subsidiary TML CV Holdings B.V. has taken its provisional holding in Italy’s Iveco Group N.V. to about 96.29% of the common share capital, net of treasury shares. During the reopening of the voluntary tender offer, 18,309,029 additional Iveco common shares were tendered, about 6.75% of the common share capital, for an aggregate countervalue of about EUR 263.65 million. Payment for the shares tendered in the reopening is scheduled for 13 November 2026. The company plans to start a Dutch legal squeeze-out to acquire the remaining shares, and the final confirmation of the tender results is expected shortly. The offer was for all common shares of Iveco Group at EUR 14.10 per share including dividend, and it values Iveco at about EUR 3.8 billion. It excludes Iveco’s defence business and aims at 100% ownership and delisting from Euronext Milan. Exor had committed to tender its 27.06% stake. N. Chandrasekaran, Chairman of the Tata Group, will serve as Chairman of the Iveco Group board. The remaining stake of under 4% will be acquired through the squeeze-out, so investors will watch the final results and the payment on 13 November. Disclaimer: The views expressed purely for educational and informational purposes and do not constitute financial advice or a recommendation to buy, sell, or hold any security