Key Developments

TML CV Holdings B.V., an indirect wholly-owned subsidiary of Tata Motors Limited, has received approval from CONSOB (Italian Companies and Exchange Commission) for its Offer Document related to the voluntary totalitarian tender offer for all common shares of Iveco Group N.V.

Approval Details

  • Approval Authority: CONSOB (Italian regulatory authority)
  • Approval Date: September 3, 2026
  • Approval Resolution: No. 24119
  • Legal Basis: Article 102, paragraph 4 of Italian Legislative Decree no. 58 of 24 February 1998 (CFA)

Offer Terms

  • Offer Type: Voluntary totalitarian tender offer
  • Target Company: Iveco Group N.V. (IVG)
  • Target Securities: All common shares
  • Offer Price: €14.10 per common share (cum dividend)
  • Offeror: TML CV Holdings B.V. (wholly-owned by TML CV Holdings Pte. Ltd.)

Timeline

  • Acceptance Period Start: September 7, 2026 at 8:30 AM CE(S)T
  • Acceptance Period End: October 26, 2026 at 5:30 PM CE(S)T (unless extended)
  • Payment Date: October 30, 2026 (fourth trading day after acceptance period ends)

Potential Extension

If legal requirements are met, the acceptance period may reopen for five trading days from November 2-6, 2026, with payment for these shares scheduled for November 13, 2026.

Document Status

The Offer Document containing detailed terms and procedures will be published separately. This press release is for information purposes only and does not constitute an offer to buy or solicitation to sell securities.

Jurisdictional Scope

The offer is being made in Italy and extended to the United States in compliance with Section 14(e) and Regulation 14E of the U.S. Securities Exchange Act of 1934, subject to applicable exemptions under Rule 14d-1(d).

Restrictions

The offer has not been and will not be launched in Canada, Japan, Australia, or any other jurisdiction where such offer would require authorization from competent authorities.

Additional Information

Reference is made to the communication dated July 30, 2025, which first disclosed TML CV HS's decision to promote the offer through the Offeror.