Iveco, Exor negotiates sale: Tata possible buyer. Trade unions write to Minister Urso
The divestment would not include Idv, i.e. the defence activities. Unions concerned for 14,000 employees, call for government intervention
3' min read
3' min read
Iveco could be up for sale. According to rumours reported by Reuters, the Agnelli family is in negotiations for the possible sale, with Tata Motors indicated as one of the potential buyers for the company that produces trucks and commercial vehicles (Exor has reportedly begun discussions with more than one counterparty, in any case not European).
According to the sources heard, the Indian group would come forward with Exor, the holding company of the Agnelli-Elkann family, to take over the controlling stake in Iveco Group, but the sale would not include Idv, i.e. the defence business.
Buoyancy in the stock market
There were numerous reactions to the news, from the political side to the trade union side. From the financial point of view, however, the stock benefited from the news. Iveco, in fact, made a bang at the close of the session at Piazza Affari. The stock, which climbed to over 9% after the first rumours that were never denied by Exor, gained 8.32% to EUR 16.6 at the close. The potential buyer, the Indian giant Tata, has always been close to Exor. Exor (+0.56% to €89.5 in Amsterdam) is Iveco's largest shareholder with over 27%, followed by several funds, including Acadian Asset Management with 3.68% and Norges Vabk with 3.65%. . Exor, intrepid, replied with a 'no comment'.
For the leader of Azione, Carlo Calenda, 'they are dismantling everything. Giorgia Meloni you must intervene immediately both to understand whether Elkann is actually selling to the Indians. In this case, conditions must be set regarding employment and patents through golden power,' the former minister of the Renzi government wrote on social media.
Unions write to Urso
No less forceful is the stance taken by the unions, which have jointly written a letter to the Minister for Enterprise and Made in Italy, Adolfo Urso. "Hereby, also in the light of the news circulated in recent hours on a possible sale of Iveco and not denied by the company, together with those relating to the spin-off of the Defence division, our concerns regarding the future of the workers of the entire group are aggravated. For this reason, we would like to reiterate that, as we have already done in our letters of 10 February 2025 and 11 June, an urgent convocation at your Ministry is necessary to understand the real situation," reads a joint request from the unions, sent by Fim-Cisl, Fiom-Cgil, Uilm-Uil, Fismic-Confsal, UglM and AqcfR.
