Italy Said to Back Breakup of Iveco With Sales to Tata, Leonardo

The Italian government is broadly supportive of Iveco Group NV’s plans to break up its business by selling its defense unit to Leonardo SpA and its commercial trucking division to India’s Tata Motors Ltd., according to people familiar with the matter.

Prime Minister Giorgia Meloni’s government has privately signaled it would back the proposed transaction as long as Iveco’s strategically important defense unit is sold to a group led by Leonardo, a state-controlled defense company, said the people, who asked not to be identified discussing sensitive information.

Read More: Iveco Confirms Talks to Sell Defense, Commercial Businesses ...