News about Tata Motors Limited
March 29th, 2007
NSE Press Release
The media had reports that Tata Motors Limited may buy out 79% stake in Spanish bus and coach manufacturer Hispano Carrocera to make it a wholly owned subsidiary.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Tata Motors Limited has vide its letter inter-alia stated,” We have informed the acquisition of a 21% equity stake in Hispano Carrocera, SA, Spain, as also of the call option of Tata Motors to purchase the remaining 75% at a price not exceeding Euro 2 million as per the terms and conditions of the Investment Agreement. The Company has not exercised its call option as of date.”
Entry Filed under: Equity Markets, NSE
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