Tata Motors’ CV Arm Secures 89.42% Stake in Iveco Group Through Tender Offer
TML CV Holdings B.V., the acquisition vehicle of Tata Motors' commercial vehicle business, has announced the provisional results of its voluntary tender offer for shares in Iveco Group N.V. The offer received acceptances for 238,157,212 shares, representing 89.42% of Iveco's common share capital, excluding treasury shares.
With the required acceptance threshold satisfied, the transaction has moved closer to completion. The final offer price has been set at EUR 14.40 per share, including an additional cash component of EUR 0.30. Payments for shares accepted during the initial offer period are scheduled for October 30, 2026.
Iveco Tender Offer Details and Next Steps
| Particulars | Details |
|---|---|
| Acquisition vehicle | TML CV Holdings B.V., a subsidiary of Tata Motors' commercial vehicle business |
| Target company | Iveco Group N.V. |
| Shares tendered | 238,157,212 common shares |
| Stake represented | 89.42% of common share capital, excluding treasury shares |
| Offer status | Required acceptance threshold satisfied, according to the provisional results |
| Final offer price | EUR 14.40 per common share, including an additional EUR 0.30 cash component |
| Total consideration | Approximately EUR 3.43 billion for the accepted shares |
| Initial payment date | October 30, 2026 |
| Reopening of the offer | The acceptance period is scheduled to reopen for five additional trading days in November 2026. |
| Payment for reopened offer | November 13, 2026, for shares accepted during the reopened period |
What to Watch Next
The next milestones include the scheduled initial payment on October 30, 2026, and the reopening of the tender offer in November. The additional acceptance period will give remaining shareholders another opportunity to tender their shares under the offer terms.
Market participants will also monitor the final acceptance figures and subsequent announcements regarding the transaction's completion and Tata Motors' plans for integrating Iveco's commercial vehicle operations.
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