By Aditi Shah NEW DELHI (Reuters) -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.

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.

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