The European Commission has approved the acquisition of exclusive control over Iveco Group, headquartered in the Netherlands, by TML Commercial Vehicles Limited of India, part of Tata Motors. The approval was required under the EU Merger Regulation, according to the official announcement.
The transaction concerns the production and supply of commercial vehicles and automotive components. Following its assessment, the Commission concluded that the proposed acquisition does not raise competition concerns, given the limited combined market presence of the companies involved.
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The review was carried out under the simplified merger procedure, which applies to cases unlikely to impede competition.
A deal valued at approximately 3.8 billion EUR
At the end of July, Iveco Group and Tata Motors Limited announced that they had reached an agreement on the acquisition. The offer values Iveco at around 3.8 billion euros, excluding the company’s defence division and the net proceeds from its separation.
The Commission’s green light represents a key milestone toward completing the transaction, paving the way for the integration of the companies’ commercial vehicle operations across global markets.
Photo: Agenzia Nova
