Iveco Defense Talks With Leonardo Advance, Pave Way on Tata Deal

Iveco Group NV is in advanced talks to sell its defense unit to Leonardo SpA, which would satisfy the demands of the Italian government and pave the way for a sale of the rest of the commercial trucking business to India’s Tata Motors Ltd., according to people familiar with the matter.

The Rome-based defense company and Iveco, controlled by the billionaire Agnelli family, could reach a broad agreement in the coming weeks if negotiations go smoothly, said the people. In parallel, the Agnelli family’s investment vehicle Exor NV is in advanced negotiations to sell the rest of the ...