Tata Sons Chairman N Chandrasekaran Meets Italian PM Giorgia Meloni In Rome, ₹3.43 Billion Euro Iveco Deal Paves Way For Global Commercial Vehicle Powerhouse
Mumbai: Tata Sons Chairman N Chandrasekaran met Italian Prime Minister Giorgia Meloni at Palazzo Chigi in Rome on Wednesday, with Tata Motors' acquisition of Iveco Group emerging as a major focus of discussions. The meeting comes as India and Italy strengthen economic and industrial cooperation, particularly in automotive manufacturing and technology. Tata Motors Launches Iveco Takeover Offer At…
Mumbai: N Chandrasekaran, Chairman of Tata Sons, convened with Italian Prime Minister Giorgia Meloni in Rome on Wednesday. The discussions centered around Tata Motors' acquisition of a majority stake in Iveco Group, a key Italian commercial vehicle manufacturer. This development underscores the deepening economic and industrial ties between India and Italy, especially in the automotive sector.
During the meeting, Chandrasekaran detailed Tata Group's plans post-acquisition of Iveco, valued at approximately €3.43 billion. The move marks the completion of Tata Motors' cash tender offer, positioning Iveco as an indirect subsidiary of Tata Motors. Together, the two firms possess a strong global footprint, operating in over 130 countries across Europe, India, South America, Asia, the Middle East, and Africa. Their collective annual revenue exceeds €21 billion, or roughly ₹2.28 lakh crore.
Chandrasekaran emphasized the strategic significance of the collaboration, stating that the combined entity aims to boost volumes, revenue, and profitability over the next five years. Both companies share manufacturing facilities in Italy and India, and their joint efforts are anticipated to bolster commercial vehicle operations on a global scale, driving sustained industrial growth.
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