Tata Motors-Iveco Tender Offer Approved by Consob

TML CV Holdings B.V., a wholly owned subsidiary of Tata Motors' TML CV Holdings Pte. Ltd., has received approval from Italy's market regulator Consob for its voluntary tender offer for all common shares of Iveco Group N.V. The approval was granted through Consob resolution no. 24119 dated September 3, 2026.

The acceptance period for the offer will begin at 8:30 a.m. CET on September 7 and close at 5:30 p.m. CET on October 26, unless extended. The consideration is set at €14.10 per Iveco Group common share, including dividend, with payment scheduled for October 30, subject to any extension of the acceptance period.

Iveco tender offer acceptance period

If the applicable legal requirements are met, the acceptance period may be reopened for five trading days following the payment date. Under the current timetable, the reopening would run from November 2 to November 6, from 8:30 a.m. to 5:30 p.m. CET each day. Payment for shares tendered during this period would be made on November 13.

The offer is being promoted by TML CV Holdings Pte. Ltd. through TML CV Holdings B.V. and covers all issued common shares of Iveco Group. The offer is being launched in Italy and extended to the United States in accordance with the applicable US securities regulations and exemptions.

Iveco offer document to be published separately

The offer document, which will contain the detailed terms of the transaction and procedures for accepting the offer, will be published through a subsequent press release. The current communication is for information purposes and states that the acceptance period had not yet begun at the time of publication.

The transaction follows TML CV Holdings Pte. Ltd.'s July 30, 2025 communication to Consob and the market announcing its decision to promote the offer through TML CV Holdings B.V.

The offer is subject to Italian regulatory requirements and includes specific provisions for US shareholders. The communication also states that the offer will not be promoted in Canada, Japan, Australia or other jurisdictions where it is not permitted without the required authorisations or regulatory compliance.