Tata Motors Commercial Vehicles has initiated a voluntary tender offer to acquire shares of Italian commercial-vehicle manufacturer Iveco Group.
The offer has been priced at EUR 14.1 per share, valuing Iveco at approximately EUR 3.82 billion. The transaction represents a significant international expansion move for Tata Motors’ commercial-vehicle business.
The company has also arranged committed bridge financing for the transaction. The offer is scheduled to remain open until late October, and investors will closely monitor the response from shareholders and the progress of the acquisition.
