Brazil’s Marcopolo to exit bus body making JV with Tatas
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Tata Motors to buy out partner for ₹99.96 crore
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Tata Motors to buy out partner for ₹99.96 crore
Brazil’s Marcopolo S.A., one of the world’s largest bus and coach manufacturers, has agreed to sell its 49% shareholding in Tata Marcopolo Motors Ltd. (TMML) to joint venture partner Tata Motors Ltd. for ₹99.96 crore in cash.
“After a successful venture in India, and as a consequence of its refreshed business strategy, Marcopolo S.A. has decided to exit from the JV and offered to sell its 49% shareholding in the JV to the company,” Tata Motors said in a statement.