Tata Motors is close to acquiring Iveco's truck business for $4.5 billion, excluding its defense unit.

Tata Motors, an Indian carmaker, is close to buying the truck business of Italian company Iveco for $4.5 billion, excluding its defense unit. This would be Tata's second-largest acquisition after Corus and the biggest in its auto sector. The deal could boost Tata's global commercial vehicle market presence, particularly in Europe and Latin America. Shares of Tata Motors dropped by 4% due to investor concerns about the financial impact of the deal.