Tata Motors completes takeover of Italian truckmaker Iveco
Mumbai, Oct 27 (UNI) Tata Motors Ltd officially informed the stock exchange here on Tuesday that it secured nearly 88 per cent of the shares of Italian truckmaker Iveco.
The acquisition, which was first announced in July 2025, has an enterprise value of about USD 4.5 billion, according to the statement. The transaction was completed after a 15-month process, after delays and resistance from some minority shareholders regarding the offer price. Earlier, about 12 per cent of Iveco shareholders voted against resolutions related to the takeover deal, while 35 pc did not vote and around 53pc voted in favour of the takeover by Tata Motors.
The official statement mentioned that Iveco shareholders who did not tender their shares during the initial acceptance period will get another opportunity to participate in the open offer. Subject to confirmation of the provisional results and fulfilment of the remaining conditions, the acceptance period will reopen for five trading days from November 2 to November 6, subject to confirmation of the provisional results and fulfilment of the remaining conditions.
Shareholders tendering their shares during this window will receive payment on November 13, the statement mentioned. Reopening of the share tendering process follows the adoption of a resolution at Iveco's extraordinary general meeting (EGM) on October 16, which reduced the minimum shareholding threshold for the offer from 95 pc to 80pc of the company's issued and outstanding common share capital on a fully diluted basis, excluding treasury shares.
The provisional acceptance level of 87.81pc exceeds this revised threshold. The offeror stated that the remaining conditions, including whether any outstanding conditions have been fulfilled or waived, will be addressed in the final results announcement. Commenting on the development on October 23, Tata Motors Managing Director and CEO Girish Wagh had maintained that the revised €14.40-per-share offer was its "best and final" proposal. On that date, the acceptance stood at 35pc, with Tata Motors expecting a substantial number of Iveco shareholders to tender their shares closer to the deadline.
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