Tata Motors secures all regulatory approvals for €3.8 billion Iveco Group acquisition

Mumbai: Tata Motors has secured all regulatory approvals required for its proposed €3.8 billion acquisition of Iveco Group, clearing a key hurdle for the tender offer, company said in an exchange filing. TML CV Holdings B.V., a wholly owned subsidiary of Tata Motors' commercial vehicles business, said all prior authorisations required under sectoral regulatory framework for offer had been obtained.

The final clearance came from the European Central Bank, which authorised the acquisition of an indirect qualifying holding in Iveco's French financial services businesses, IC Financial Services SA and CNH Industrial Capital Europe SAS.