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Tata Motors and Iveco Group announced a new global commercial mobility enterprise, combining complementary portfolios and geographic strengths with combined revenues of ~€21 billion. The enterprise will have 27 manufacturing sites and 25 R&D centres.
Tata Motors, through its Dutch subsidiary TML CV Holdings, completed the acquisition of approximately 89.42% of Iveco's share capital, making Iveco officially part of Tata Motors. The total transaction value is approximately €3.91 billion.
