Tata Motors Limited, through its indirect wholly-owned subsidiary TML CV Holdings B.V., has announced provisional results of its voluntary totalitarian tender offer for all common shares of Iveco Group N.V. Following the reopening of terms, the subsidiary has reportedly secured a 96.29% shareholding in the Issuer’s common share capital, excluding treasury shares. This development follows the initial acceptance period where a significant 87.81% of shares were tendered, and an additional 6.75% during the reopening phase.
The tender offer, coordinated by BNP Paribas’ Italian branch, saw a total of 18,309,029 common shares tendered during the reopening, translating to an aggregate countervalue of approximately EUR 263.65 million. The offer price was previously amended to EUR 14.40 per share, inclusive of an additional cash component of EUR 0.30 per share. Payment for the shares tendered during this phase is scheduled for 13 November 2026.
With the provisional results indicating a substantial majority stake, Tata Motors’ subsidiary plans to initiate a Dutch legal squeeze-out to acquire the remaining shares. This move aligns with the company’s stated intention not to restore a free float sufficient for regular trading of Iveco’s shares. The process may be preceded by a demerger and share sale, with further details to be communicated in due course.
This strategic acquisition is part of Tata Motors’ broader expansion efforts in the commercial vehicle sector, leveraging Iveco’s established presence in the European market. Market analysts view this consolidation as a significant step for Tata Motors in enhancing its global footprint and operational synergies. The final confirmation of the tender results is anticipated shortly, which will solidify Tata Motors’ control over Iveco Group, potentially impacting the competitive dynamics within the industry.
