TML CV Holdings B.V., an indirect wholly owned subsidiary of Tata Motors, is making a voluntary tender offer for all the common shares of Iveco Group. Tata Motors said the required sector-specific approvals have now been obtained.
The latest clearance came from the European Central Bank (ECB), which on September 1 authorised the proposed acquisition of indirect qualifying holdings in IC Financial Services SA and CNH Industrial Capital Europe S.A.S., both of which are specialised credit institutions authorised in France.
Two other regulatory clearances had been secured earlier this year.
The UK’s Financial Conduct Authority approved changes in control relating to Iveco Retail Limited and IC Financial Services UK Limited on January 5. The Bank of Spain followed on June 24, issuing its non-objection to the acquisition of an indirect qualifying holding in Transolver Finance.
With these approvals in place, Tata Motors said all prior authorisations required under the sector regulatory framework for the tender offer have been obtained.
The next step is the publication of the formal offer document, which will take place once Italian markets regulator Consob completes its review.
The tender offer is being made by TML CV Holdings Pte. Ltd. through its wholly owned subsidiary TML CV Holdings B.V. and covers all issued common shares of Iveco Group.
The offer will be launched in Italy and extended to shareholders in the United States under applicable US securities rules. Iveco shareholders will receive the formal offer document before the tender period begins.
Tata Motors had first formally communicated its decision to launch the tender offer on July 30, 2025. The latest regulatory clearances remove the sector-specific approval conditions that had to be satisfied before the offer could move to its next stage.
