Tata Motors likely to pick up majority stake in Swaraj Mazda: Report
Auto major, Tata Motors is said to be considering picking up 53.5% stake in Swaraj Mazda from Japan-based Sumitomo Corp., as mentioned in some media reports. The move will help the company to strengthen its position in the light commercial vehicles (LCV) segment.
The report further added that an announcement in this regard is likely to be made early next year.
Successful completion of this acquisition will trigger an open offer for additional 20% equity stake in Swaraj Mazda.
Tata Motors had reported 65% surge in its November month sales figure. The company has sold total 54,108 vehicles in November 2009 as compared to 32,696 vehicles in November 2008.
Source : Live Mint
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Category: Stock-News
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