Tag: Olof Persson

Italy’s Iveco sells defence business to Leonardo, commercial business to Tata Motors

Ariete C2 Main Battle Tank | Photo: Iveco Defence Vehicles

Italian heavy and defence motor vehicle company, Iveco, announced on Wednesday its decision to sell off its defence vehicles business to Italian defence company Leonardo and the rest of its business, which includes trucking, to India’s Tata Motors. While the deal with Leonardo is valued at €1.7 billion, the transaction with Tata Motors amounts to €3.8 billion.