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Tata and Marcopolo S.A. entered the 51:49 JV in 2006 and has launched models like the Starbus
Highlights
Tata Motors will buy them for a cash consideration of Rs. 99.96 crore
The two companies entered the JV in a 51:49 ratio in 2006
Tata Motors has announced entering into a share purchase agreement with Marcopolo S.A. to buy the remaining 49 per cent shareholding in their Joint Venture (JV) Tata Marcopolo Motors Limited (TMML). The homegrown carmaker has said that it will procure the remaining shares for a cash consideration of ₹ 99.96 crore, post which, TMML will become a wholly-owned subsidiary of Tata Motors. The two companies entered this 51:49 JV in 2006 to form one of the largest bus and coach manufacturers globally, however, the Brazilian bus and coach manufacturer has now decided to exit from the JV.