Tata Motors has officially assumed control of Iveco Group, creating a “global champion” in commercial vehicles.

Tata Motors has secured an 89.42% stake of Iveco Group through its recommended cash tender offer

The Indian automotive giant has secured an 89.42% stake through its recommended cash tender offer, announced a year ago, ensuring that Iveco Group is now part of Tata Motors.

The deal covers 238,157,212 common shares, valuing the initial settlement batch at approximately €3.4bn (£2.8bn) and reflecting a final offer price of €14.40 per share. The transaction, which specifically excluded Iveco’s defence vehicle division, was carried out through a newly formed Dutch subsidiary, TML CV Holdings BV.

Following the initial settlement, Iveco Group operates as a majority-owned subsidiary of Tata Motors. Tata has previously said Iveco Group’s headquarters will remain in Turin, Italy, with the transaction framework designed to preserve the industrial footprint and employee base of both manufacturing organisations.

The combined group will have a major global presence, annual revenues of €22bn (£18bn) and sales of 540,000+ units a year.

To clear the path for full ownership, Tata Motors will reopen the acceptance period for an additional five trading days, running from today until 6 November 2026. This allows remaining minority shareholders to voluntarily tender their common stock at the final cash price of €14.40 per share, with settlement scheduled for 13 November. Once this final window closes, Tata Motors plans to trigger post-offer legal mechanisms to buy out any remaining investors and completely delist the company.

Following the share settlement, Tata Motors has immediately overhauled Iveco Group’s corporate governance, implementing a new board structure.

Effective immediately, Iveco Group’s restructured board will be chaired by Natarajan Chandrasekaran as senior non-executive director, with Olof Persson continuing as chief executive officer. PB Balaji and Girish Wagh join as non-independent directors, while Guenter Butschek and Charles Nichols serve as independent directors.

The financial results of Iveco Group for the third quarter 2026 will be released on 3 November 2026, instead of 5 November 2026, as previously communicated.