In a major deal, Tata Motors is expected to acquire Italian truck maker Iveco from Agnelli family for $4.5 billion, a report by The Economic Times said on July 30. The deal, if confirmed, will make it the Tata group’s second-largest purchase ever and the biggest ever for its auto unit, the report said.
The family is the principal shareholder of the automaker, the report said.
In 2007, Tata Steel had acquired Corus Group for $12 billion, making it the group’s largest deal ever. The next year in 2008, Tata Motors acquired UK’s Jaguar Land Rover for $2.3 billion.
The announcement for the latest deal is expected on July 30, the newspaper said.
The board members of both the companies are set to meet on July 30 to approve the acquisition, ET said citing sources.
The Turin-based firm on Tuesday had confirmed the developments as the company said it was in “advanced talks” with two “different parties”, the paper said.
The India carmaker will announce its Q1 results next week. In the previous quarter, the company had reported a 51 percent fall in consolidated net profit at Rs 8,470 crore for the fourth quarter of FY25. Its consolidated total revenue from operations increased 0.4 percent to Rs 1,19,503 crore against Rs 1,19,033 crore in the year-ago period, thus missing estimates.
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