Italy has given conditional approval to the terms of sale of Iveco to Tata Motors Ltd., Reuters reported. The news agency has seen the parliamentary documents on this subject.
The decision was made on Oct 31, according to the Reuters report.
Iveco is a truck manufacturing company based out of Turin, Italy. Tata Motors Ltd. agreed to buy Iveco for Euro 3.8 billion in a deal. The truck maker is separately selling its defence business to Italian state-backed defence group Leonardo, as per details on Reuters’ reports.