Tata Motors Ltd

Tata Motors launches voluntary tender offer for Iveco Group at €14.1/share 🚛

- Voluntary tender offer at EUR 14.1 per share (cum dividend)

- Acceptance period: 7 Sep 2026 to 26 Oct 2026

- Iveco Board unanimously supports the offer

- Exor commits 27.06% of common shares, 43.19% voting rights

- Combined sales >590k units/year, revenue c.EUR 21B (INR 2,28,000Cr+)

- Geographic split: Europe 46%, India 32%, South America 8%, RoW 14%

- Offer values Iveco at approx EUR 3.82 billion

- Financing up to EUR 3,825,000,000 from Morgan Stanley and MUFG

- Minimum acceptance: 95% (reduced to 80% if Back-End Resolution adopted)

- Iveco HQ remains in Turin, no significant restructuring