M&A M&A
Tata Motors completes acquisition of Italian truckmaker Iveco at $4.5 B valuation
Source Mint (opens in a new tab)
Tata Motors has completed the acquisition of Italian truckmaker Iveco at an enterprise value of about USD 4.5 B. The deal concluded following an offer in which nearly 88% of Iveco shares were tendered.Founded in 1975, Iveco has a strong position in Europe and is the third largest commercial vehicle maker in Latin America. Tata Motors expects the acquisition to provide access to new geographic markets and product segments, such as heavy-duty deep-mining trucks and tractor-trailers, where Iveco possesses established capabilities.The combined business will operate with a total annual sales volume exceeding 540,000 vehicles and generate revenue of more than USD 25-B.