Press Release from the Competition Council regarding the economic concentration project concerning the acquisition by the company ‘TML CV Holdings Pte. Ltd.’ of the exclusive control of the company ‘Iveco Group N.V.’, excluding the IDV and Astra brands

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘operation summary’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.

Names of the companies and individuals concerned:

• The acquirer: ‘TML CV Holdings Pte. Ltd.’;
• The target: ‘Iveco Group N.V.’, excluding the IDV and Astra brands.

Nature of the operation

• Acquisition of exclusive control.

Economic sector concerned:

• Truck supply market.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. September 15, 2025

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the acquisition by the company ‘TML CV Holdings Pte. Ltd.’ of the exclusive control of the company ‘Iveco Group N.V.’, excluding the IDV and Astra brands.

‘TML CV Holdings Pte. Ltd.’ is a Singaporean limited liability company, registered in the Singapore Companies Registry under the number UEN 202522092M and headquartered at 78 Shenton Way, 14-02 Singapore, Central Singapore (SG-01), 079120 Singapore. It is a holding company, 100% owned by ‘Tata Motors Limited’, active globally in the automotive sector.

‘Iveco Group N.V.’ is a Dutch public limited company, registered in the Netherlands Chamber of Commerce under number 83102701 and headquartered in Amsterdam with operational headquarters at Via Puglia 35, Turin, Italy. It is active in the automotive sector through the manufacturing and sale of trucks, other commercial vehicles, buses, powertrains, as well as financial products for its dealers and customers.

 

Done in Rabat, September 4, 2025