Tata Sons Chairman N Chandrasekaran met Italian Prime Minister GiorgiaMeloni at Palazzo Chigi in Rome on Wednesday, following Tata Motors’ acquisition of a controlling stake in Italian commercial vehicle manufacturer Iveco Group, marking a significant development in growing industrial and economic cooperation between India and Italy.
During the meeting, Chandrasekaran presented the Tata Group’s strategy following the acquisition, which is expected to bring Tata Motors and Iveco together to establish one of the world’s largest commercial vehicle manufacturers. The discussions highlighted the growing strategic importance of industrial partnerships between the two countries.
On October 30, Tata Motors announced that it had acquired an 89.42 per cent stake in Iveco Group for nearly 3.43 billion euros following the initial settlement of its cash tender offer.
The transaction represents a major step in Tata Motors’ global commercial vehicle expansion, strengthening its international presence and positioning it for greater scale in the global mobility and transportation industry.
Earlier, addressing a global press conference at Iveco’s headquarters in Turin on Tuesday, Chandrasekaran thanked the Italian government and Prime Minister Meloni for their encouragement and support throughout the acquisition process.
