Italy approves, with conditions, the sale of the truck manufacturer Iveco to the Indian group Tata Motors
Iveco truck. Photo credit: joao antonio / Alamy / Profimedia
The Italian government has conditionally approved the sale of the Iveco company to the Indian manufacturer Tata Motors, according to a recently published parliamentary document cited by Reuters.
The decision was taken on October 31, and the approval is accompanied by certain conditions related to the protection of Italy's strategic interests, considering the role of the Iveco company in the automotive industry and in the production of military vehicles, News.ro cites.
Tata Motors agreed in July to buy Iveco in a deal estimated at 3.8 billion euros ($4.36 billion). In parallel, Iveco has reached a separate deal to sell its defense division to Italy's state-backed Leonardo group.
The conditional approval comes under the so-called “golden power” mechanism of the Italian government, which allows the state to intervene in transactions involving assets considered strategic for the economy or national security.
Iveco wants to sell its defense division for 1.5 billion euros
