A takeover bid of 3.82 billion euros has been launched. The new group will manage annual revenues exceeding 21 billion euros. Iveco's headquarters will remain in Turin.
The operation that will bring Iveco Group into the orbit of Tata Motors Limited has formally begun. Late Friday evening, the two companies announced the launch of a voluntary public tender offer, with a price of €14.10 per share and an overall estimated value of the Turin-based company at €3.82 billion.
Exor N.V., the holding company of the Agnelli-Elkann family, will receive €1.034 billion, having confirmed its irrevocable commitment to deliver its 73.3 million shares. The option to purchase begins on September 7 and will conclude on October 26, 2026. The extraordinary shareholders' meeting is scheduled for October 16.
The new combined group will manage a business with revenues exceeding €21 billion and over 550,000 units sold annually. Tata Motors has reassured that Iveco Group's headquarters will remain in Turin, with no plant closures or workforce reductions planned as a direct consequence of the integration.
This operation represents a radical scaling-up for the subalpine industry and a historic transition for the Agnelli-Elkann family. Exor, through Giovanni Agnelli B.V., held 27.06% of the capital and 43.19% of the voting rights in Iveco.
The integration aims to balance Iveco's strong European presence with Tata Motors' leadership in the growth markets of Asia and Africa, creating a global commercial vehicle giant. The operation has already received the green light from supervisory authorities, including the ECB and Consob.
The reassurances regarding job stability and the permanence of the headquarters in Turin seek to mitigate concerns over the transfer of an Italian industrial heritage to new horizons. The challenge will be to see if these formal promises translate into real protection for the historic productive and employment fabric.
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