The family Agnelli-Elkann would be considering selling Iveco. The company produces heavy vehicles, buses and engines and is owned by holding Exorthe same that controls Stellantis and Ferrari. For the purchase of the group there would be an offer from Indiana Tata Motorsthe largest company in the automotive sector in the Asian country.
Before concluding this operation, however, Iveco should sell its division that produces military vehicles, Iveco Defgence. For some time the group has been trying to separate this division from the rest of the company. In this case, the main buyer would be Leonardo.
Tata Motors wants to buy Iveco
To report the news of the negotiation between Iveco and Tata Motors was the British news agency Reuterswho mentioned several people involved in the negotiation as sources. Exor owns 27.1% of Iveco’s actionsbut has voting rights on the Board of Directors equal to 43.1%. This means that the company fully controls.
Tata Motors It is the largest automotive company in India. It has a turnover of 53 billion dollars, produces more than 1.1 million vehicles per year and gives work to almost 92 thousand people. Iveco, including the defense division, invoice just over 16 billion euros and has 36 thousand employees, including 14 thousand in Italy. It would not be the first time that the lambs and Tata Motors collaborate. In 2006 Tata and Fiat They had started a joint venture, transformed in 2018 into an agreement for the supply of engines.
Before this news began to circulate, the market capitalization of Iveco (the sum of the value of all its actions) was of 4.2 billion euros. Since then the shares of the company have grown a lot, +8.3% in closing on Friday 18 July. Before proceeding to the sale of Iveco, however, at least the scorpor of the defense division would be necessary.
The Iveco Defgence issue
For several months we have been talking about the spin-off (the slope) or of the sale of Iveco Defence, the division of Iveco that produces military transport. The main reason for this decision would be the great investments that the European weapon sector could receive in the coming years.
The European plan to make the continent independent of abroad as regards armaments could lead to an expansion of Iveco Defense, which would be easier if the company was not linked to the rest of the group. At the same time, precisely for this potential, the value of the defense division has much increased, overcoming 1.9 billion euros.
In addition to the slope, therefore, also the sale to a large company in the defense sector is not to be excluded. Among those concerned there is above all Leonardo. A purchase by the state controlled of the armaments would also resolve the doubts related to the importance of Iveco Defense for national security. In case of purchase by a foreign company, in fact, the government could have used the Golden Power.
The reactions of politics
Without Iveco Defence, Tata Motors would be free to buy the group with less fears that the executive can intervene. In fact, in the past, another Asian society already, The Chinese fawhad tried to buy Iveco, but had been blocked by the government. Also in this case, many have already asked for Meloni’s intervention. Fiom has released a note:
Iveco Defgence’s escort would therefore confirm a preordained plan for the sale of an important part of the industrial heritage of our Republic. The government stops any hypothesis of sale who questioned the plants and workers of Iveco.
Also the secretary of action, Carlo Calendahoped for government intervention, through the use of the Golden Power.
