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FAW to Progress With Potential Bid for CNH’s Iveco Unit

  • Chinese group progressing with due diligence on truck business
  • CNH rejected proposal in 2020 valuing unit at 3 billion euros
Updated on

China FAW Group Co. is moving forward with preparations for a potential bid for the Iveco truck and bus business owned by the billionaire Agnelli family’s CNH Industrial NV, people with knowledge of the matter said.

The Chinese automotive group has progressed with due diligence on Iveco and is working toward making a formal offer in the coming months, according to the people. FAW still needs to conduct site visits at Iveco’s factories, one of the people said, asking not to be identified because the information is private.