Representational file photo.
Rome: Tata Motors of India will buy Italy's Iveco Group for 3.8 billion euros ($4.4 billion) in a bid to create a "global champion" in the commercial vehicles sector, the two companies said Wednesday.
The deal excludes Iveco's Defence division for armoured vehicles, which is to be sold to Italian defence and aerospace group Leonardo, in a 1.7 billion euro deal announced earlier Wednesday.
