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India's Tata Motors to buy Marcopolo's stakes in bus, coach JV for Dh49.6 million

The companies enter a share purchase agreement for purchase of Marcopolo’s 49 per cent Published:  December 21, 2020 15:20 IANS Marcopolo S.A. will continue to license the Marcopolo trademarks to Tata Marcopolo for a minimum of three years. Image Credit: Supplied 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 (Dh 49.6 million). 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 (Dh84.3 million) capital Tata Marcopolo to it.

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.

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 acquire Marcopolo's 49% stake in bus venture for Rs 100 crore

Tata Motors to acquire Marcopolo s 49% stake in bus venture for Rs 100 crore Tata Motors will purchase 8.33 crore shares of face value Rs 10 each, representing 49 per cent of the paid up equity share capital of Tata Marcopolo Motors, from the JV partner Marcopolo S.A for Rs 99.96 crore BusinessToday.In | December 17, 2020 | Updated 18:22 IST Tata Motors to acquire 100% stake in Tata Marcopolo Motors Tata Motors on Thursday said it will buy the 49 percent stake held by its Brazilian partner Marcopolo in their bus-making joint venture Tata Marcopolo Motors Ltd (TMML) for Rs 100 crore in all cash deal. Post the acquisition, TMML will become a wholly-owned subsidiary of Tata Motors, the auto major said in a regulatory filing.

Tata Motors to buy out partner's stake in bus joint venture Tata Marcopolo for Rs 100 crore

Tata Motors to buy out partner s stake in bus joint venture Tata Marcopolo for Rs 100 crore Tata Motors to buy out partner’s stake in bus joint venture Tata Marcopolo for Rs 100 crore Tata Marcopolo Motors is a 51:49 JV formed in 2006 between Tata Motors and Marcopolo S.A., one of the largest bus and coach manufacturers globally. By: PTI | New Delhi | December 17, 2020 11:46:47 am Badges for the Tata Marcopolo Motors Ltd. liquefied natural gas (LNG) bus are seen during the launch of a new range of electric and hybrid buses at the Tata Motors Ltd. commercial vehicle manufacturing unit in Pune, India, on Wednesday, Jan. 25, 2017. (Photographer: Dhiraj Singh/Bloomberg)

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