Italy's Iveco Group NV has divvied up assets worth 5.5 billion euros ($6.3 billion) as part of deals with Leonardo SpA and India's Tata Motors Ltd. This is reported in the Iveco press release.
In particular, Iveco sold Leonardo's defense division for 1.7 billion euros and Tata Motors' commercial truck and bus production division for 3.8 billion euros.
Leonardo and Rheinmetall AG, as a partner in the deal, intend to discuss the further division of Iveco's defense division by the end of 2025.
As part of the deal, Exor NV, the majority shareholder of Iveco, agreed to sell a 27% stake to Tata, which intends to participate in the tender for the remaining shares. In recent years, Exor has sold several automotive businesses, including Comau and auto parts manufacturer Magneti Marelli.
The acquisition of Iveco's truck division will enable Tata to become a key manufacturer of commercial vehicles and strengthen its presence in a large market. Tata is also acquiring Iveco's design and technology assets in the eco-friendly transportation sector, which could enhance the company's attractiveness to European buyers.
The Iveco defense division develops and manufactures specialized vehicles for defense enterprises, as well as develops technologies in the field of artificial intelligence and software. The headquarters is located in Bolzano (Italy) with manufacturing plants in Germany, Romania and Brazil and a staff of 2,000 employees.
Iveco Group is a multinational Italian company producing powertrains, vehicles, transmissions and related financial services for the agriculture, construction, shipbuilding, power generation and commercial vehicles sectors. The staff consists of 36,000 employees, mainly in Europe, with 40% working in Italy. In 2024, revenue from the sale of trucks and buses amounted to 15.3 billion euros. The company also includes a division for the production of powertrains. It is headquartered in Turin, Italy, with businesses in France, Germany, the United Kingdom, China, and Latin America.
Leonardo is an Italian multinational company specializing in aerospace, defense and security. The holding's structural divisions fulfill orders in the fields of defense, energy, helicopter construction, telecommunications and transport. The headquarters is located in Rome (Italy) with offices in 150 countries.
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