Mumbai: Tata Motors has secured all regulatory approvals required for its proposed €3.8 billion acquisition of Iveco Group, clearing a key hurdle for the tender offer, company said in an exchange filing. TML CV Holdings B.V., a wholly owned subsidiary of Tata Motors' commercial vehicles business, said all prior authorisations required under sectoral regulatory framework for offer had been obtained.The final clearance came from the European Central Bank, which authorised the acquisition of an indirect qualifying holding in Iveco's French financial services businesses, IC Financial Services SA and CNH Industrial Capital Europe SAS.
Tata Motors secures all regulatory approvals for €3.8 billion Iveco Group acquisition
Tata Motors has secured all necessary regulatory approvals for its acquisition. The company's subsidiary obtained prior authorisations under the sectoral regulatory framework. Final clearance came from the European Central Bank for financial services businesses. This key hurdle has now been cleared for the tender offer. The proposed acquisition of Iveco Group is valued at €3.8 billion.
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