Iveco now belongs to Tata Motors. electrive reports that Tata, through its Dutch subsidiary TML CV Holdings, holds about 89.42% of Iveco's share capital after the first settlement of its voluntary offer.
The offer
Tata first offered €14.10 a share in mid-2025 and raised it to €14.40 in October. That lifted the deal's value from about €3.8 billion to about €3.91 billion. Remaining shareholders can still tender until Nov. 6, with settlement on Nov. 13.
The combined group
Automotive World says the two companies have about €21 billion in combined revenue and sell about 590,000 vehicles a year in more than 130 countries. Together they have 27 plants, 25 research centres, around 9,300 sales and service outlets and more than 73,000 staff. Their powertrains include diesel, natural gas, battery-electric and hydrogen.
Iveco stays headquartered in Turin and keeps its brands. Automotive World compares this to Tata's hands-off ownership of Jaguar Land Rover.
New board
N. Chandrasekaran, chairman of Tata Sons, chairs Iveco's new six-member board. Former Iveco CEO Olof Persson joins it as an executive director. Damiano Cretarola became CFO on Nov. 2. electrive notes that Iveco's defence business went to Leonardo before the takeover.