Tata Motors to buy Iveco for €3.8 billion
Tata Motors, a subsidiary of TML CV Holdings PTE, will acquire Iveco Group N.V.'s commercial vehicle division for €3.8 billion. This will create a stronger, global entity with over 540,000 units sold per year. The deal is subject to the separation of Iveco's defence business and will allow Tata Motors to focus on its commercial vehicle unit and improve operating leverage.