Tata Motors plans to raise about 1 billion euros ($1.14 billion) of equity to repay the loan funding its $4.5 billion offer to buy Iveco's trucks and bus business, the Indian automaker's chief financial officer said on Thursday.

Tata Motors is set to acquire Iveco Group. After the transaction, Iveco will retain its workforce as well as its headquarters in Turin, Italy

Tata Motors and Iveco Group have announced a definitive agreement that will see the Indian automotive giant acquire the European commercial vehicle