Iveco Group officially becomes part of Tata Motors as takeover settlement is completed

Iveco Group has officially become part of Tata Motors. On October 30, the two companies announced the completion of the initial settlement of the takeover offer launched by the Indian manufacturer, marking a decisive step in the acquisition process first announced in July 2025.

Following the transfer of the shares tendered during the initial acceptance period, Tata Motors now holds approximately 89.42% of Iveco Group’s share capital, excluding treasury shares. The transaction covers more than 238 million shares, acquired for a total consideration of approximately €3.43 billion, at €14.40 per share.

As previously reported by Sustainable Truck&Van, the takeover offer had already become unconditional after exceeding the minimum acceptance threshold of 80%. The completion of the settlement now formally brings Iveco Group under Tata Motors’ control.

The acquisition concerns Iveco Group’s commercial vehicle and powertrain businesses, excluding the Defence activities, which are covered by a separate transaction with Leonardo.

Iveco Group’s new Board of Directors

The change in ownership is accompanied by a new corporate governance structure, effective October 30. N. Chandrasekaran, Chairman of Tata Sons, has been appointed Chairperson of Iveco Group’s Board of Directors, while Olof Persson remains Chief Executive Officer, ensuring continuity in the company’s executive leadership.

The new Board also includes P. B. Balaji, Girish Wagh, Guenter Butschek and Charles Nichols. The changes mark the beginning of a new phase for Iveco Group, now operating within the Tata Motors organisation.

The remaining steps towards delisting

Although Iveco Group is now officially part of Tata Motors, some steps in the acquisition process remain to be completed. The takeover offer will reopen from November 2 to 6, 2026, allowing shareholders who have not yet sold their shares to accept the same offer of €14.40 per share. Payment for these additional shares is scheduled for November 13.

Tata Motors’ objective remains to acquire the remaining shares and proceed with Iveco Group’s delisting from the Milan Stock Exchange. The company will provide further information on the procedures required to complete this process.

Meanwhile, Iveco Group has brought forward the publication of its third-quarter 2026 financial results from November 5 to November 3. With the change in ownership now effective, attention will increasingly turn to how the two manufacturers intend to develop their industrial cooperation and integrate their respective businesses, particularly in the commercial vehicle sector.