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Passenger Vehicles Unit Valued At Rs 9,417 Cr: Tata Motors
Tata Motors had announced that it would turn its domestic passenger vehicle (PV) business unit into a separate unit and seek a strategic partnership in order to help the unit secure its long term viability.
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Tata Motors passenger vehicles business unit, which is in the process of being hived off into a separate entity, has been valued at Rs 9,417 crore, according to a regulatory filing by the company.
The homegrown auto major has called a meeting of the secured creditors as well as equity shareholders of the company on March 5 to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd as a going concern on a slump sale basis for a lump sum consideration, Tata Motors Ltd (TML) said.
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BusinessToday.In | February 3, 2021 | Updated 09:32 IST
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