Iveco joins the Tata Motors group as the transfer of 89.42% of shares is completed
Iveco Group officially becomes part of Tata Motors
The settlement of shares tendered in the voluntary tender offer launched by the Indian group has been completed. Through its subsidiary Tml Cv Holdings Tata Motors now holds 238157212 ordinary shares of Iveco. This represents 89.42% of the share capital excluding treasury shares.
This operation marks the completion of a decisive phase in the acquisition of the commercial vehicles and mobility specialist group by Tata Motors which operates globally in the automotive sector.
The offer will reopen for five stock exchange sessions from November 2 to November 6 inclusive from 8.30 to 17.30 to allow shareholders who have not yet participated to tender their shares. The settlement of shares tendered during this additional window is scheduled for November 13.
Subsequent phases of the transaction including any procedures to acquire the remaining shares and complete the exit of minority shareholders will be communicated by Tata Motors in accordance with the offer document.
