Iveco Group NV agreed to break itself up, selling its defense unit to Leonardo SpA and the rest of the Italian truck maker to Tata Motors Ltd in deals totaling about €5.5 billion ($6.3 billion).

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

Exor ( OTCPK:EXXRF ), the investment company controlled by Italy’s Agnelli family and Iveco’s largest shareholder, has agreed to sell its 27% holding to Tata. Tata plans to make a public offer for the remaining shares, paving the way for Iveco to be delisted from the Milan exchange.