The Tata Motors Iveco deal has reached its final tender count: TML CV Holdings, the Tata Motors acquisition vehicle, now holds 96.25% of Iveco Group’s ordinary shares. Payment for the shares tendered in the reopened offer is scheduled for 13 November 2026, against the simultaneous transfer of ownership, according to Autocar Professional’s 9 November 2026 report.
Because the holding is above 95%, TML CV Holdings will start a Dutch legal squeeze-out of the remaining shares. This follows the provisional result of 96.29% announced on 6 November.
What Are the Final Numbers in the Tata Motors Iveco Offer?
The reported figures are:
- Final stake: 96.25% of Iveco’s ordinary shares, excluding 4,868,597 treasury shares (about 1.80%).
- Reopened tender: 18,203,217 shares, about 6.71% of ordinary share capital, for an aggregate of €262.13 million.
- Total held by TML CV Holdings: 256,360,429 shares, including 238,157,212 shares accepted in the initial offer period (about 87.81% of ordinary share capital, as reported).
- Final acceptance was 105,812 shares fewer than the provisional figure.
The percentages are as reported and are calculated on different bases, so they do not add up to 96.25%.
What Price Did Tata Motors Pay for Iveco Shares?
The offer price is €14.40 per share, made up of the original €14.10 plus €0.30 in additional cash consideration announced on 9 October.
What Is the Squeeze-Out and What Happens to Remaining Shareholders?
With the 95% threshold crossed, TML CV Holdings will start a Dutch legal squeeze-out for the remaining 9,986,374 ordinary shares, about 3.68%. The filing says the squeeze-out will not be preceded by the implementation of the Demerger and Share Sale. The timeline and procedural details are to be announced separately.
Market Reaction and Industry Response
No market reaction, analyst comment or trade-body response to the final count was found in the source reviewed at the time of writing.
What Happens Next?
Settlement of the reopened-offer shares is due on 13 November 2026. After that, the squeeze-out timetable is the next item to watch, and it has yet to be announced.
Frequently Asked Questions
How much of Iveco does Tata Motors now hold?
TML CV Holdings holds 96.25% of Iveco Group’s ordinary shares, excluding treasury shares.
What price was offered per Iveco share?
€14.40 per share, which includes €0.30 in additional cash consideration announced on 9 October.
When is payment due?
Payment for the shares tendered in the reopened offer is scheduled for 13 November 2026.
Source: Autocar Professional, 9 November 2026.
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