Indian vehicle giant Tata Motors buys the Italian truck manufacturer Iveco for the equivalent of 42.4 billion kronor, the two companies report on Wednesday.
Tata Motors owns, among other things, the car brands Jaguar and Land Rover. Iveco manufactures, in addition to trucks, also buses and defense equipment.
The defense part of Iveco's production is not included in the deal. It is instead sold to the Italian defense equipment manufacturer Leonardo for 19 billion kronor.
