Global vendor finance company DLL and Iveco Group, a global automotive company active in the truck, bus, defense, powertrain, and related financial services arenas, have obtained regulatory approvals to enter into a joint venture (JV) to facilitate the energy transition in Europe. Together, the companies aim to amplify access to low- to zero-emission commercial vehicles.
DLL has acquired a majority interest (51%) in GATE, formerly a fully owned subsidiary of Iveco Group, through a reserved capital increase, to support the transition to low- to zero-emission commercial vehicles in Europe, while Iveco Group retains 49% of the share capital. The new JV structure will provide GATE with strengthened financial backing and asset financing expertise, crucial for accelerating its growth strategy, driving its further development and expansion, and enabling it to achieve its objectives.
GATE will continue helping customers under the newly formed JV structure. The GATE JV intends to further extend its reach to additional countries where both DLL and Iveco Group are already active and, over time, to offer similar solutions for other brands beyond IVECO. The teams from Iveco Group, DLL and GATE are already working jointly on the integration process while maintaining their focus on the business expansion projects outlined in GATE’s plans.
