Tata Motors completes $4.32 billion Iveco takeover, Chandrasekaran says growth
Tata Motors has wrapped up its $4.32 billion takeover of the Iveco Group, setting its sights on becoming a global force in commercial vehicles.
Instead of just merging for size, Tata's chairman N Chandrasekaran says it's all about real growth.
As of October 30, Tata owns nearly 90% of Iveco and is working to buy the rest and take the company private.
Tata and Iveco to expand markets
This acquisition brings together Tata's leadership in India and a growing presence in Asia, the Middle East and Africa with Iveco's presence in Europe and Latin America, so both brands get new markets to play in.
Managing director and chief executive Girish Wagh points out how their strengths fit together nicely.
The plan includes bringing Iveco vehicles to India, then building them locally, while also using Tata platforms to grow abroad.
Plus, they're collaborating on electric and hydrogen technologies, hoping to lead the way as cleaner tech takes off worldwide.