Tata Motors' Unit Gains 89.42% Stake In Iveco Group For ₹30,300 Crore, Tender Offer Terms To Reopen

Mumbai: TML CV Holdings B.V., a wholly owned subsidiary of Tata Motors Limited, has provisionally secured an 89.42 per cent shareholding in Iveco Group N.V. (IVG) through a voluntary totalitarian tender offer. The provisional results indicate a total transaction value of approximately ₹30,300 crore.

Offer Details

The tender offer, initiated by TML CV Holdings Pte. Ltd. (a wholly owned subsidiary of Tata Motors), involved TML CV Holdings B.V. as the Offeror. The offer covered all common shares of Iveco Group N.V. The acceptance period for the offer concluded on 26 October 2026.

Provisional Results

According to provisional results from BNP Paribas, 238,157,212 common shares were tendered, representing about 87.81 per cent of IVG's common share capital and 89.42 per cent of the common share capital net of treasury shares. The aggregate countervalue of these shares, based on the amended price, is EUR 3,429,463,852.80.

Threshold Condition Met

The Threshold Condition for the offer has been satisfied based on these provisional results. This condition stipulated that acceptances, combined with shares held by the Offeror and its affiliates, should represent at least 80 per cent of IVG's issued and outstanding share capital on a fully diluted basis, excluding treasury shares.

Price and Payment

The offer price for each common share tendered was EUR 14.40 (cum dividend). This includes an initial price of EUR 14.10 and an additional cash component of EUR 0.30, as previously announced on 9 October 2026. Payment for shares tendered during the acceptance period is scheduled for 30 October 2026.

Reopening of Terms

Subject to confirmation of provisional results and other conditions, the acceptance period will reopen for five trading days. This reopening will occur from 2 to 6 November 2026, with payment for shares tendered during this period expected by 13 November 2026.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.