Iveco Group and Tata Motors have agreed to work together to create a global commercial vehicle group with a €3.8 billion public offering.

The agreement between Iveco Group and Tata Motors aims to form a global commercial vehicle group with a diversified portfolio and extensive industrial capabilities. The voluntary public offer by Tata Motors, recommended by Iveco's board of directors, is valued at €3.8 billion and will be finalized after the separation of Iveco's defense division. The merger will create an entity with annual sales of 540,000 units and combined revenues of around €22 billion, with a significant presence in emerging markets.