Core Viewpoint - Exor Group, owned by the Agnelli family, is negotiating the sale of truck manufacturer Iveco, with Tata Motors as a primary potential buyer, leading to a nearly 10% increase in Iveco's stock price on the Milan exchange [1][3]. Group 1: Company Overview - Iveco is a well-known commercial vehicle manufacturer based in Turin, Italy, employing approximately 36,000 people, with 14,000 in Italy [3]. - The company has a market capitalization of about €4.2 billion (approximately ¥35 billion), making it smaller than competitors like Volvo Trucks, Daimler, and Volkswagen [3]. Group 2: Ownership and Stake - Exor Group holds a 27.1% stake in Iveco and possesses 43.1% of the voting rights [3]. Group 3: Defense Business and Sale Conditions - The sale of Iveco does not include its defense business, Iveco Defence Vehicles (IDV), which is Italy's largest military vehicle manufacturer, complicating potential transactions due to the sensitivity of defense operations [5]. - Any merger or acquisition involving Iveco is expected to be subject to Italy's "golden power" legislation, which allows the government to impose conditions or block foreign and domestic acquisitions in strategic sectors [5]. - Iveco has received three bids for its defense business, with a reported value of up to €1.9 billion (approximately ¥15.85 billion) [5]. Group 4: Future Plans - Exor Group is in discussions with several non-European companies regarding the potential sale of Iveco, with plans to divest its defense business by the end of this year [5].