Tata Motors to purchase companion’s stake in bus three way partnership for Rs 100 crore
Tata Motors on Thursday mentioned it might purchase out its companion’s stake in bus three way partnership (JV) agency Tata Marcopolo Motors for round Rs 100 crore.
“After a profitable enterprise in India, and as a consequence of its refreshed enterprise technique, Marcopolo S.A. has determined to exit from the JV and provided to promote its 49 per cent shareholding within the JV to the corporate,” it mentioned in a regulatory submitting.
The corporate will buy the steadiness 49 per cent shareholding in Tata Marcopolo Motors (TMML) for a money consideration of Rs 99.96 crore, it mentioned.
Tata Marcopolo Motors is a 51:49 JV fashioned in 2006, which has manufacturing amenities in Dharwad and Lucknow.
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