Iveco Plans to Sell Business to India’s Tata Motors

The Italian government has provided conditional approval for the sale of Italian manufacturer Iveco to India’s Tata Motors.

Reuters reports this, citing a document published by parliament.

Under the agreement, Tata Motors will acquire Iveco upon Iveco’s separate completion of the sale of its defense business to the Italian state defense group Leonardo SpA.

Italian authorities have set several conditions for the deal, particularly regarding the preservation of strategic defense assets and jobs in Italy.

The sale is significant for both Italian industry and the Indian auto giant: Tata Motors will expand its global footprint, while Italy retains control of the defense segment through Leonardo and maintains civilian truck production during a challenging period for the company.

The government approved the sale on October 31 and must now finalize legal and operational conditions to complete the deal.

Militarnyi previously reported that Iveco had signed a final agreement to sell its defense division, which includes the Iveco Defence Vehicles and ASTRA brands, valued at around €1.7 billion.