Iveco Group NV confirmed it is planning to break up the company, saying it is in advanced discussions to sell its defense unit and the commercial truck manufacturing operations to separate buyers.
The statement issued Tuesday came after Bloomberg reported that the company was poised to announce a sale of the defense unit to Leonardo SpA and the commercial trucking business to India’s Tata Motors Ltd. as early as Wednesday, when it’s scheduled to report earnings.
Shares of Iveco, which is controlled by Fiat’s founding Agnelli family, surged as much as 7.4%. The stock has more than doubled this year, ...
