Tata Motors intends to combine Iveco Group’s commercial vehicle operations with its own, forming a new global player with annual sales of around 540,000 units and combined revenues of approximately €22 billion. The new entity will be split across Europe (50%), India (35%), and the Americas (15%), with additional positions in Asia and Africa.

The Iveco deal will be Tata Motors' largest auto acquisition, surpassing its $2.3 billion purchase of Jaguar Land Rover in 2008

India's Tata Motors will buy Iveco in a deal valued at 3.8 billion euros ($4.36 billion), the companies said on Wednesday, after the Italian truckmaker separately agreed to sell its defence business to Leonardo .