Mumbai3 minutes ago
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Tata Motors can buy EVECO, a Italian truck -making company for $ 4.5 billion (about Rs 39,245 crore). The EVECO Group has also confirmed that they are talking on the sale of commercial truck business with Tata Motors.
This will be Tata Motors’s biggest ever deal, which is bigger than buying Jaguar Land Rover (JLR) in 2008 for $ 2.3 billion. It is reported that Tata Eveco’s owner will buy his stake (27.1%) from the Agnel family and will launch the tender offer for the rest of the shareholders.
Big deals of Tata Group companies so far
| Which Tata company bought | Which company bought | When did you buy | How many bought |
| Tata steel | Chorus | 2007 | 12 billion dollars (1.04 lakh crore rupees) |
| Tata motors | Jaguar Land Rover | 2008 |
2.3 billion dollars (20 thousand crores) |
| Tata t | Tetley | 2000 | 407-430 million dollars (3.75 thousand crore rupees) |
| Tata steel | Net steel | 2004 |
$ 292 million (2.54 thousand crores) |
|
Tata coffee |
8 o’clock coffee | 2006 | 220 million dollars (1.91 thousand crore rupees) |
Note: The value of the deal in the rupee is given according to the price of the present dollar.
This deal will strengthen Tata’s commercial vehicle unit However, the deal will not include Eveco’s defense business. The deal will strengthen Tata’s commercial vehicle (CV) unit at a global level, as 74% of the revenue of EVECO comes from Europe, while Tata’s 90% revenue from India.
The deal is a chance for Tata to strengthen its grip in the global market. This is a major step for Tata, which will further enhance their global identity.
Tata Motors shares declines due to news of this deal After the news of this deal came out, today i.e. on July 30, Tata Motors’ shares are seeing a decline of more than 3%. At the same time, this news had a good impact on EVECO shares and on July 29, its stock stopped 4.84%.
