Description of Activities

Description of transaction: The transaction involves the acquisition of issued share capital in the Iveco by TMLCVH through Titan Bidco. 

Acquiring group: The primary acquiring undertaking is Tata Motors Limited Commercial Vehicles Holdings Pty Ltd (“TMLCVH”), a private limited company duly incorporated in accordance with the laws of Singapore. TMLCVH is a holding company for Tata Motors Limited’s (TML) overseas commercial vehicles business outside India. TML’s business activities include the supply of Tata commercial and passenger vehicles and Jaguar Land Rover (Range Rover, Jaguar, Discovery, and Defender brands) passenger vehicles. The Acquiring Group has no business activities in Namibia.

Target undertaking: The primary target undertaking is Iveco Group NV (“Iveco”), a publicly traded company duly incorporated in accordance with the laws of the Netherlands. In Namibia, Iveco is only active in the supply of Iveco-branded commercial vehicles (minibuses and coaches) and trucks (light, medium, and heavy vehicles for transportation of goods). 

Relevant market: The parties submit the relevant market is the supply of commercial vehicles/trucks in Namibia.

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