Tata Motors To Buy Partner's Stake In Bus Joint Venture For Rs 100 Crore
The company will purchase the balance 49 per cent shareholding in Tata Marcopolo Motors (TMML) for a cash consideration of Rs 99.96 crore, it said
Topics
Tata Motors
Tata Marcopolo Motors is a 51:49 JV formed in 2006, which has manufacturing facilities in Dharwad and Lucknow
Tata Motors on Thursday said it would buy out its partner’s stake in bus joint venture (JV) firm Tata Marcopolo Motors for around Rs 100 crore.
“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 per cent shareholding in the JV to the company,” it said in a regulatory filing.
The company will purchase the balance 49 per cent shareholding in Tata Marcopolo Motors (TMML) for a cash consideration of Rs 99.96 crore, it said.
Tata Marcopolo Motors is a 51:49 JV formed in 2006, which has manufacturing facilities in Dharwad and Lucknow.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Fri, December 18 2020. 01:24 IST
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more