The transaction, valued at approximately EUR 3.8 billion, involves a voluntary tender offer by Tata Motors for all common shares of Iveco Group ( parent company of Iveco Bus and Heuliez, as well as of Iveco and FPT Industrial), excluding its defence business that has been sold to Leonardo. The completion of the offer is subject to the separation of that business.
BMTC has delivered 148 electric buses from Tata Motors, expanding the fleet to 1,436 buses, with plans for a total of 1,779 buses by year-end.