DBT Bureau
Pune, 10 Nov 2026
Tata Motors has strengthened its ownership of Italian commercial vehicle manufacturer Iveco Group after its takeover offer received further acceptance from shareholders. The company’s subsidiary, TML CV Holdings B.V., has reached a 96.25% shareholding in Iveco Group, bringing it closer to completing the acquisition.
In a regulatory filing dated November 9, 2026, Tata Motors said its subsidiary received the final results of the reopening of the tender offer. During this period, shareholders tendered 18.20 million common shares, representing around 6.71% of Iveco Group’s share capital.
With these additional shares, TML CV Holdings B.V. will hold 256.36 million common shares, equivalent to approximately 96.25% of Iveco Group’s share capital, excluding treasury shares.
Tender offer attracts strong shareholder response
The latest acceptance comes after 238.15 million shares, representing around 87.81% of Iveco Group’s share capital, were tendered during the initial offer period.
The offer price has been fixed at €14.40 per share, including an additional cash component of €0.30 over the original offer price of €14.10.
The payment for shares tendered during the reopening period is scheduled for November 13, 2026. The total value of the additional shares accepted during this period stands at approximately €262.13 million.
Tata Motors to acquire remaining shares
With its shareholding crossing the 95% threshold, TML CV Holdings B.V. has announced plans to initiate a Dutch legal squeeze-out process to acquire the remaining shares of Iveco Group.
Around 9.98 million shares, representing approximately 3.68% of the company’s share capital, are still held by other shareholders.
The squeeze-out process will cover these remaining shares. The company said further details about the timing and procedure will be announced separately.
Iveco shares may move towards delisting
Following the acquisition process, Borsa Italiana is expected to order the suspension of trading in Iveco Group’s common shares and/or proceed with delisting, taking into account the time required to complete the squeeze-out process.
The development marks an important step in Tata Motors’ plan to take full control of Iveco Group and expand its presence in the global commercial vehicle market.
Tata Motors disclosed the latest development to the Indian stock exchanges on November 9, 2026, under SEBI’s listing disclosure requirements.
