Italian truck maker Iveco. Photo: Reuters
Iveco Group agreed to break itself up, selling its defence unit to Leonardo and the rest of the Italian truck maker to Tata Motors in deals totalling about €5.5bn.
Leonardo will pay €1.7bn including debt for the military vehicle business, according to a statement. The rest of Turin-based Iveco, which makes a range of commercial trucks and buses, is set to be acquired by Tata for about €3.8bn.
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