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Tata Motors' Ownership in Iveco Group Tops 96% After Extended Acceptance Period

MT Newswires·11/08/2026 23:43:18
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11:43 PM EST, 11/08/2026 (MT Newswires) -- Iveco Group (IVG.MI) suitor Tata Motors increased its ownership of the company to 256,466,241 common shares, or 96.29% of the target's share capital, after the extended acceptance period for the takeover proposal. Based on preliminary results published on Nov. 6, 18,309,029 common shares, or 6.75% of the Milan-listed specialty vehicles manufacturer's common share capital have been tendered for the acceptance of the offer. The Indian commercial vehicle manufacturer is making an offer of 14.40 euros per share through TML CV's TML CV Holdings subsidiary. The final results of the extended acceptance period are expected to be disclosed on Thursday, with settlement scheduled for Friday.