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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 buy Marcopolo s stakes in bus/coach JV for Rs 99.96Cr
By IANS |
Published on
Thu, Dec 17 2020 14:06 IST |
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Tata motors. Image Source: IANS News
Chennai, Dec 17 : 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.
In a regulatory Tata Motors said 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 capital Tata Marcopolo to it.
By siliconindia | Thursday, 17 December 2020, 09:16 Hrs 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. In a regulatory Tata Motors said 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 capital Tata Marcopolo to it. According to Tata Motors, the two companies have entered into a share purchase agreement whereby the former will purchase the balance 49 per cent shareholding in the Rs 650.55 crore Tata Marcopolo for a cash consideration of Rs 99.96 crore.