Italy Said to Back Breakup of Iveco With Sales to Tata, Leonardo
The Italian government is reportedly supportive of Iveco Group's plans to restructure its business. The company is considering selling its defense unit to Leonardo SpA and its commercial trucking division to India's Tata Motors Ltd. The proposed breakup aims to streamline Iveco's operations and focus on its core commercial vehicle business. The sale of the defense unit to Leonardo would allow Iveco to concentrate on its commercial truck and van operations, while the Tata Motors deal would provide Iveco access to a larger global market for its commercial vehicles. The Italian government's backing of these plans suggests it sees the restructuring as a way to strengthen Iveco's competitiveness and position it for future growth. The deals are still in the early stages, and their completion would be subject to regulatory approvals and other customary conditions.
Note: This is an AI-generated summary of the original article. For the full story, please visit the source link below.
