Tata wants to buy Iveco

Iveco recently sold its firefighting division Magirus, and now Tata wants to take over the Italian company's truck business. The Indian vehicle manufacturer wants around 3.8 billion euros for the deal. Iveco's Board of Directors has already approved the deal. The purchase is to be handled by a Dutch holding company of Tata, which has submitted a cash offer of 14.10 euros per share. Iveco's defense business is to be sold separately.

Tata has played no role in the European commercial vehicle market to date, but is the owner of Jaguar Land Rover. A good 20 years ago, the company made headlines with the Nano, a so-called "5000-euro car". But even in India, the much cheaper model flopped, so Tata discontinued production after a few years in 2018. The car never came to Europe. (aum)