TRIESTE – The European Commission has approved, under the EU Merger Regulation, Tata Motors’ acquisition of sole control of Iveco Group, headquartered in the Netherlands. Tata Motors’ acquiring entity is TML Commercial Vehicles Limited, based in India.
The transaction mainly concerns the production and supply of commercial vehicles and automotive components. The Commission concluded that the notified operation does not raise competition concerns, given the limited combined market position of the two companies following the proposed transaction.
“We have learned that the European Commission has approved, under the EU Merger Regulation, Tata Motors’ acquisition of sole control of Iveco Group, finding no competition concerns. First the Italian Government last week, and now the EU, have approved this operation,” commented Samuele Lodi, national secretary of Fiom-Cgil and head of the mobility sector, “without involving the trade unions and without addressing the issue of production and employment stability. This is unacceptable and shows that the Institutions’ attention is focused exclusively on the economic and financial interests of large groups, starting with Exor, which is dismantling much of our country’s industrial heritage piece by piece.”
“The Government must urgently convene all stakeholders and support our request to jointly build a future of growth in research and development, production and employment at Iveco. We have made this request jointly and will firmly uphold, together with the workers, the need to engage in a discussion on the company’s future,” the union statement concludes.
