Tata Motors Takes Control of Iveco: What the 89.42% Stake Means

What happened

An Indian company now controls one of Europe's best-known truck and bus makers.

On Friday, 30 October 2026, Tata Motors and Iveco Group jointly announced that Tata Motors had completed the initial settlement of its all-cash tender offer for the Italian commercial vehicle company. Through a wholly owned subsidiary, TML CV Holdings B.V., Tata Motors paid EUR 14.40 per share for 238,157,212 Iveco shares. That gives it about 89.42% of Iveco's common share capital, excluding shares Iveco holds in its own treasury.

With that settlement, Iveco has become an indirect subsidiary of Tata Motors, the companies said. According to the final results notice filed in Italy, the shares tendered are worth about EUR 3.43 billion at the offer price.

The board has changed straight away. N. Chandrasekaran, chairman of Tata Sons, is now chairperson of Iveco's board, and Tata Motors executives P. B. Balaji and Girish Wagh have joined as non-executive directors, according to the companies' announcement as reported by Autocar Professional and The Economic Times. Olof Persson stays on as chief executive. All of Iveco's special voting shares were bought back for no payment, leaving none outstanding.

Why people are searching

Iveco is not a household name in India, so many readers are searching simply to find out what Tata Motors has bought. Iveco is headquartered in Amsterdam, listed in Milan, and makes IVECO trucks, IVECO BUS and HEULIEZ buses, and FPT engines and powertrains, with a financing arm called IVECO CAPITAL. The Economic Times reported that it employs about 33,000 people.

The size of the deal is the other draw. At about EUR 3.43 billion for the shares settled so far, it ranks among the biggest overseas purchases by an Indian automaker, and it gives Tata Motors' commercial vehicle business a large European footprint in trucks, buses and engines. Google Trends does not explain why a topic rises, so these reasons reflect the coverage rather than a confirmed cause.

What comes next

Roughly 10.6% of Iveco's shares, excluding treasury shares, remain outside Tata Motors' ownership. Those shareholders get a second chance to sell at the same price when the offer reopens from 2 to 6 November 2026, with payment on 13 November. After that, Tata Motors says it will announce its next steps, which could include a squeeze-out of the remaining shareholders under Dutch law. Iveco's third-quarter results, now due on 3 November, will be its first as part of Tata Motors.