Tata Motors acquires 89.42% of Italy's Iveco at €14.40
Business
Tata Motors has snapped up 89.42% of Italian vehicle maker Iveco, paying €14.40 per share.
With this deal, Iveco becomes part of the Tata family, helping Tata grow its global reach and mix up its business beyond India.
N. Chandrasekaran chairs Iveco board
Big leadership changes are already in motion: Tata Sons chairman N. Chandrasekaran is now chairing Iveco's board, with Tata Motors executives P B Balaji and Girish Wagh joining as non-independent directors.
The two companies will combine their strengths across different regions, and more updates, including possible legal or structural changes, are expected in due course as they plan their next moves together.