Exor is reportedly in talks with Tata Motors regarding the sale of Iveco Group, which includes Iveco Bus and Heuliez Bus. IDV, the defense sector brand, is not part of these negotiations. Following the news, Iveco Group shares rose by approximately 9% on the Italian Stock Exchange. Trade unions promptly expressed concerns about potential employment impacts, sending a letter to the Minister for Enterprise and Made in Italy, Adolfo Urso. With about 36,000 employees globally, predictions on employment effects remain uncertain as developments unfold.
As reported by Italian financial newspaper Il Sole 24Ore, it would have been the emissaries of Tata Motors who contacted the Agnelli family to start talking about a transfer of ownership of Iveco Group.
The reactions of the main trade unions were not long in coming. They wrote a letter to Adolfo Urso, the Minister for Enterprise and Made in Italy, expressing their concerns about the possible repercussions on employment.
It is difficult to make predictions at this stage: it is necessary to wait and see how the affair develops. Iveco Group has about 36,000 employees globally, 14,000 of whom work in Italy.
There have been talks in recent years about the possible sale of the brand by its parent company Exor, particularly a known negotiation with FAW in 2021 that was ultimately suspended.
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