Overview

• Exor is negotiating to sell its 27% stake in Iveco Group to a consortium led by Tata Motors, excluding Iveco’s defence division.
• The company has received multiple non-binding offers from bidders including Leonardo-Rheinmetall, KNDS, Czechoslovak Group and BAE Systems.
• Rumors of the stake sale sent Iveco shares up over 8%, reflecting investor optimism about the prospective deal.
• Trade unions Fiom-Cgil and Uilm have demanded urgent talks with Industry Minister Adolfo Urso, warning that the sale could threaten Italian jobs.
• Italian officials indicate the transaction is likely to face scrutiny under the country’s golden power rules due to Iveco’s strategic importance.