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Tata Motors to acquire balance stake in Tata Marcopolo Motors

Tata Motors to acquire balance stake in Tata Marcopolo Motors ANI | Updated: Dec 17, 2020 12:42 IST TMML is a 51:49 joint venture formed in 2006 between the Tata Motors and Marcopolo SA, one of the largest bus and coach manufacturers globally. The joint venture has manufacturing facilities in Dharwad in Karnataka and Lucknow in Uttar Pradesh where it builds bus bodies on chassis supplied and marketed by Tata Motors under the Starbus and Starbus Ultra bus brands. As a consequence of its refreshed business strategy, Marcopolo SA has decided to exit from the joint venture and offered to sell its 49 per cent shareholding to Tata Motors. The acquisition is likely to complete by February-end.

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Indices hit record high; Nifty above 13,740

Benchmark indices extended gains and hit record high levels in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 198.75 points or 0.43% at 46,865.21. The Nifty 50 index advanced 57.95 points or 0.42% at 13,740.65. The S&P BSE Sensex hit a record high of 46,873.71 while the Nifty hit a record high of 13,742.40 in early afternoon trade. Investors reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy. Federal Reserve Chairman Jerome Powell also said on Wednesday that stock prices are not necessarily highly priced given how low interest rates are. Meanwhile, negotiators in Washington are shaping a new $900 billion coronavirus stimulus bill that is said to include a second stimulus check.

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Tata Motors acquires balance stake in Tata Marcopolo Motors

Tata Motors acquires balance stake in Tata Marcopolo Motors
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Tata Motors To Buy Remaining 49% Share In Tata Marcopolo Motors For Nearly Rs 100 Crore

6,172 Views View Photos 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.

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Marcopolo S A to exit from Tata Marcopolo Motors, Tata Motors to buy remaining stake in bus JV for Rs 100 cr

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. advertisement The Starbus Ultra is a popular bus of Tata Marcopolo Motors Ltd. HIGHLIGHTS The joint venture builds bus bodies on chassis supplied by Tata Motors.

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