New Delhi, July 31 -- Tata Motors Limited has announced plans to acquire Iveco Group N.V., a European leader in commercial vehicles and mobility, in an all-cash voluntary tender offer valued at approximately euro 3.8 billion.

The acquisition is subject to regulatory approvals and the separation of Iveco's defence business. The combination aims to create a formidable global player in the commercial vehicle sector with complementary capabilities, diversified markets, and a shared vision for sustainable growth.

Under the proposed deal, Tata Motors will acquire all issued common shares of Iveco Group (excluding its defence division), offering euro 14.1 per share in cash. This transaction is conditional on the completion of the separation of...