India’s Tata Motors has reportedly approached Italy’s Exor to acquire its controlling stake in truckmaker Iveco, excluding the defence unit, sources told Reuters.
19 Jul 2025 | 1361 Views | By Autocar Professional Bureau
Tata Motors is in discussions with Italy's Agnelli family investment firm, Exor, for a potential acquisition of its controlling stake in Iveco Group, Reuters reported, citing three sources familiar with the matter. Two of these sources confirmed that the Indian automaker has initiated contact over a possible deal.
According ...
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Tata Motors is in discussions with Italy's Agnelli family investment firm, Exor, for a potential acquisition of its controlling stake in Iveco Group, Reuters reported, citing three sources familiar with the matter. Two of these sources confirmed that the Indian automaker has initiated contact over a possible deal.
According to Reuters, any transaction would exclude Iveco’s defence division, Iveco Defence Vehicles (IDV), which the company had earlier announced plans to spin off or sell by the end of 2025. Iveco said in May it had already received multiple offers for the defence business.
A third source told Reuters that Exor has begun engaging with more than one non-European party regarding the possible sale of its stake, as the separation of the defence unit continues.
While Exor and Iveco declined to comment on the matter, Tata Motors has also not responded to Reuters’ request for a statement.
Exor currently holds a 27.1% equity stake and 43.1% voting rights in the Turin-headquartered truck and bus manufacturer. Iveco, which also produces engines, has a market capitalisation of approximately €4.2 billion (\$4.9 billion). Among Europe’s major truckmakers, it is the smallest, following Volvo, Daimler, and Traton, and has frequently been considered a potential candidate for mergers and acquisitions.