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Three Iveco trucks (Lucapbl/Dreamstime)
India’s Tata Motors has announced a €3.6bn acquisition of the vehicles arm of Italian car and equipment manufacturer Iveco.
The cash deal is equivalent to €14.1 per share and is due to close in the first half of 2026. It has been overseen by Goldman Sachs and has unanimous approval by Iveco’s board.
The combined company will have a combined revenue of €22bn, with half of Iveco’s money coming from European markets, 35% from India, 15% from America and “attractive positions” in Asia and Africa.
A Tata Motors press release has claimed that the move will reduce the cash flow risk in the sector and allow for more market diversity.
Natarajan Chandrasekaran, Tata Motor’s chair, said: “This is a logical next step following the demerger of the Tata Motors Commercial Vehicle business and will allow the combined group to compete on a truly global basis with two strategic home markets in India and Europe.
“The combined group’s complementary businesses and greater reach will enhance our ability to invest boldly.”
In a separate deal, Iveco’s defence subsidiary will be sold for €1.7bn to Italian aerospace, defence and security company Leonardo. The acquisition is due to be completed by the 31st March 2026.
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