Marcopolo S.A. to exit from Tata Marcopolo Motors, Tata Motors to buy remaining stake in bus JV for
Marcopolo S.A. to exit from Tata Marcopolo Motors, Tata Motors to buy remaining stake in bus JV for Rs 100 cr
Tata Motors and Marcopolo S.A. have entered into a share purchase agreement where the former will purchase the latter s 49 per cent shareholding in Tata Marcopolo Motors Ltd for a cash consideration of Rs 99.96 crore.
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The Starbus Ultra is a popular bus of Tata Marcopolo Motors Ltd.
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The joint venture builds bus bodies on chassis supplied by Tata Motors.
Tata Motors to buy Marcopolo s stakes in bus/coach JV for Rs 99.96Cr
By IANS |
Published on
Thu, Dec 17 2020 14:06 IST |
15 Views
Tata motors. Image Source: IANS News
Chennai, Dec 17 : Indian automobile major Tata Motors Ltd on Thursday said it would buy the 49 per cent stakes of Marcopolo S.A. in the bus and coach making joint venture Tata Marcopolo Motors Ltd for Rs 99.96 crore.
In a regulatory Tata Motors said as a consequence of its refreshed business strategy, Marcopolo S.A has decided to exit from the joint venture and offered to sell its 49 per cent shareholding in Rs 170 crore capital Tata Marcopolo to it.
By siliconindia | Thursday, 17 December 2020, 09:16 Hrs Indian automobile major Tata Motors Ltd on Thursday said it would buy the 49 per cent stakes of Marcopolo S.A. in the bus and coach making joint venture Tata Marcopolo Motors Ltd for Rs 99.96 crore. In a regulatory Tata Motors said as a consequence of its refreshed business strategy, Marcopolo S.A has decided to exit from the joint venture and offered to sell its 49 per cent shareholding in Rs 170 crore capital Tata Marcopolo to it. According to Tata Motors, the two companies have entered into a share purchase agreement whereby the former will purchase the balance 49 per cent shareholding in the Rs 650.55 crore Tata Marcopolo for a cash consideration of Rs 99.96 crore.
Tata Motors to buy Marcopolo s stakes in bus, coach JV for Rs 99.96 cr (Ld)
By IANS |
Published on
Thu, Dec 17 2020 16:51 IST |
5 Views
Tata Motors to buy Marcopolo s stakes in bus, coach JV for Rs 99.96 cr. Image Source: IANS
New Delhi/Chennai, Dec 17 : Indian automobile major Tata Motors Ltd on Thursday said it would buy the 49 per cent stakes of Marcopolo S.A. in the bus and coach making joint venture Tata Marcopolo Motors Ltd for Rs 99.96 crore.
In a regulatory filing, Tata Motors said that as a consequence of its refreshed business strategy, Marcopolo S.A has decided to exit from the joint venture and offered to sell its 49 per cent shareholding in Rs 170 crore capital Tata Marcopolo to it.
Tata Motors to buy Marcopolo s stakes in bus, coach JV for Rs 99 96 cr smetimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smetimes.in Daily Mail and Mail on Sunday newspapers.