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Tata Motors completes initial settlement, takes 89.42% stake in Iveco Group

Iveco becomes an indirect subsidiary of Tata Motors; a reopened tender window runs 2 to 6 November, with settlement on 13 November.

By idly desk · from 2 reports · · 2 min read
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Image: GaadiWaadi

The gist

Story
  • Tata Motors has acquired about 89.42% of Iveco Group's common shares at EUR 14.4 each.
  • Iveco is now an indirect subsidiary of the Indian automaker, and its board has been restructured.
  • Tender acceptance reopens for five trading days from 2 to 6 November 2026.

What's new

Tata Motors has taken control of Iveco Group after completing the first settlement of its tender offer. The Indian automaker now holds about 89.42 per cent of Iveco's common shares. Settlement was completed on 30 October 2026, covering 238.16 million shares. Tata Motors paid EUR 14.4 in cash per share. Iveco is now an indirect subsidiary of Tata Motors.

N. Chandrasekaran is now Chairperson of Iveco's board, and Olof Persson remains chief executive. P. B. Balaji and Girish Wagh, both Tata Motors executives, have also joined the board. Guenter Butschek and Charles Nichols are independent directors. Iveco also repurchased all its special voting shares for no payment. The tender offer reopens from 2 to 6 November, with final settlement on 13 November 2026.

Why it matters

For Indian readers, this deal puts a large commercial vehicle maker under Tata Motors' control. Iveco makes trucks, buses, fire-fighting and defence vehicles, and engines. The takeover is described as one of the biggest acquisitions by the Indian company. Shareholders who have not yet tendered their shares have a short window to do so.

What others say

GaadiWaadi and Autocar Professional both report the settlement and the board changes. Both give the same share count and price. Neither outlet reports any reaction from Iveco employees or regulators.

What we don't know yet

The sources do not say how the deal will affect Iveco's operations or jobs. They also do not say how many shares will be tendered in the reopened window.

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