Tata Motors Clears ECB Hurdle for €3.8-Billion Iveco Takeover

Tata Motors' commercial-vehicle business has secured European Central Bank approval for its €3.8-billion takeover offer for Iveco Group, a significant step towards completing the deal.

The ECB's clearance comes after three authorities - Britain's Financial Conduct Authority, the Bank of Spain, and now the ECB - granted their approval to Tata's acquisition of Iveco's regulated financing businesses.

Tata Motors had expected the remaining sector-specific financial approvals around the end of August, but the timeline remains largely on track. The next step is for Italy's securities market regulator, Consob, to review the offer document before it can be published and moved to the tender stage.