Tata Motors shares in focus as firm launches tender offer for Iveco Group; values company at €3.82 billion

Shares of Tata Motors will be in focus heading into trade on Monday as the company announced it has begun a voluntary tender offer to acquire all issued common shares of Italian transport vehicle maker Iveco Group for €14.1 per share in cash, including the dividend.

Tata Motors CV and Iveco Group jointly announced the commencement of the offer by TML CV Holdings B.V. in an exchange filing over the weekend.

The offer puts Iveco’s value at approximately €3.82 billion and is intended to give Tata Motors ownership of 100% of Iveco’s common shares, followed by the company’s delisting from Euronext Milan. To finance the deal, Tata Motors CV has entered into a debt commitment letter with Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc. and MUFG Bank, Ltd. for fully committed bridge financing.


Exor, the Agnelli family-owned investment company and Iveco’s largest shareholder, has also given its irrevocable support to the transaction. The company has tendered its 27% holding in Iveco’s common shares, which accounts for 43.19% of Iveco’s voting rights. Iveco’s board has also given its full and unanimous support and recommendation to the transaction.

The tender offer is set to open on Monday, September 7, with Iveco shareholders scheduled to vote on the proposal in October. The transaction is structured to result in the acquisition of all common shares of Iveco and the subsequent delisting of the company from Euronext Milan.

Sensex, Nifty today: Catch all the LIVE stock market action here

What does this mean for Tata Motors?

Girish Wagh, Managing Director and CEO of Tata Motors, said the start of the tender offer was an important step towards bringing the two complementary organisations together. He said combining their capabilities and market presence could create a stronger and more globally competitive commercial vehicle business, while also supporting investment in future technologies and generating sustainable value for stakeholders.

Wagh said Tata Motors had immense respect for Iveco’s heritage, people and brands and looked forward to supporting its continued growth. He added that Tata Motors considered the tender offer a compelling value proposition for Iveco shareholders and was looking forward to completing the transaction successfully.

Tata Motors August sales

The development comes after Tata Motors reported a sharp increase in commercial vehicle sales in August. According to the company’s monthly auto sales report, total CV sales across domestic and international markets rose 49% year-on-year to 44,411 units in August 2026, compared with 29,863 units in August 2025.

Tata Motors’ international commercial vehicle business recorded a much stronger increase during the month. Sales surged 227% year-on-year to 7,792 units from 2,382 units a year earlier, marking the highest growth among the reported CV categories in percentage terms.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)