Tata Motors' proposed €3.91 billion takeover of Italian commercial vehicle manufacturer Iveco Group has passed a significant milestone. On October 16, Iveco shareholders approved key resolutions that facilitate the acquisition. They lowered the minimum tender acceptance threshold from 95% to 80%. The vote advances Tata's strategy to build a more globally competitive commercial vehicle business.
After the deal closes, Tata Sons chairman N. Chandrasekaran is slated to chair Iveco's proposed new board. The tender offer is scheduled to conclude on October 26, subject to outstanding conditions and sufficient shareholder acceptance. The deal is expected to expand Tata Motors' scale, technological capabilities and global market reach.
Data released on October 18 showed Tata Motors was India's second-largest carmaker by sales volume in September 2026. It sold 68,810 passenger vehicles, up 15.3% year on year. The Nexon and Punch remained the company's top-selling models.