Tata Sons Chairman N Chandrasekaran meets Italian PM

Rome :

Tata Sons Chairman N Chandrasekaran met Italian Prime Minister Giorgia Meloni in Rome with the Tata Group's acquisition of Italian commercial vehicle maker Iveco Group taking centre stage amid strengthening industrial and economic ties between India and Italy.The meeting took place at Palazzo Chigi, the Italian Prime Minister's official residence, where Chandrasekaran outlined the Tata Group's strategy following its acquisition of a controlling stake in Iveco Group, one of Italy's leading commercial vehicle manufacturers, sources said.

The interaction comes amid growing strategic economic and industrial cooperation between the two countries. On October 30, Tata Motors announced that it had acquired an 89.42 per cent stake in Iveco for nearly 3.43 billion euros following the initial settlement of its cash tender offer.

Earlier, addressing a global press conference at Iveco's headquarters in Turin Chandrasekaran thanked the Italian government and Prime Minister Meloni for their support throughout the acquisition process.

"Iveco Group, with very strong Italian roots and a strong presence across Europe and Latin America, brings huge industrial heritage, iconic brands, technology and world-class capabilities across trucks, buses and power trains. "I would like to thank everyone who has been involved in this transaction, and I'm grateful to all of them. I would also like to start today by thanking the Italian government and the Prime Minister Giorgia Meloni and Minister Adolfo Urso for their encouragement and support throughout this process," the Tata Sons Chairman said.