Tata Motors has secured all prior regulatory approvals required under sector rules for its proposed acquisition of Italian commercial vehicle maker Iveco Group. According to reports from CNBC TV18, the company announced on Tuesday that the required sector-specific approvals have now been obtained, marking another significant step towards completing the transaction. The latest clearance came from the European Central Bank (ECB), which on September 1, 2026 authorised the proposed acquisition of indirect qualifying holdings in IC Financial Services SA and CNH Industrial Capital Europe S.A.S., both specialised credit institutions authorised in France. The disclosure was made under Regulation 30 of the SEBI Listing Regulations, confirming that all prior authorisations required for the voluntary tender offer have been obtained.
Two other regulatory clearances had been secured earlier this year, as reported by CNBC TV18. The UK's Financial Conduct Authority approved changes in control relating to Iveco Retail Limited and IC Financial Services UK Limited on January 5, 2026. The Bank of Spain followed on June 24, 2026, issuing its non-objection to the acquisition of an indirect qualifying holding in Transolver Finance. With these approvals in place, Tata Motors said all prior authorisations required under the sector regulatory framework for the tender offer have been obtained. The staggered timeline of regulatory approvals reveals a phased clearance strategy across different jurisdictions, with the earliest approval coming from the UK Financial Conduct Authority in January 2026, while the final piece from the European Central Bank was secured eight months later in September 2026.
According to CNBC TV18, TML CV Holdings B.V., an indirect wholly owned subsidiary of Tata Motors, is making a voluntary tender offer for all the common shares of Iveco Group. The tender offer will be launched in Italy and extended to shareholders in the United States under applicable US securities rules. Iveco shareholders will receive the formal offer document before the tender period begins. Tata Motors had first formally communicated its decision to launch the tender offer on July 30, 2025. The offer document will be published following the review by Consob, the Italian securities and exchange commission, which is conducted pursuant to Article 102, paragraph 4, of the Italian Consolidated Law on Finance (CFA).
As reported by CNBC TV18, the next step is the publication of the formal offer document, which will take place once Italian markets regulator Consob completes its review. The tender offer is being made by TML CV Holdings Pte. Ltd. through its wholly owned subsidiary TML CV Holdings B.V. and covers all issued common shares of Iveco Group. The latest regulatory clearances remove the sector-specific approval conditions that had to be satisfied before the offer could move to its next stage. The offer document will be published following Consob's review, which is a mandatory prerequisite under the sector regulatory framework before the tender offer can proceed.
