21Oct/090
Tata Motors Acquires Remaining 79% Stake In Hispano Carrocera
Tata Motors which had a 21% stake in Hispano Carrocera has now acquired the remaining 79% shares by the way of exercise of the existing call option through mutual agreement with the other share holder Investalia S.A Spain.
The agreement cements Tata Motor's ongoing commitment to Hispano Carrocera. The company will now further strengthen the ongoing initiatives to improve operational efficiencies such as productivity improvement, cost reduction, and new product development, to improve market share of the company and enhance brand value. Tata Motors is confident that Hispano will now emerge as an even stronger force in the Spanish as well as Global bus and coach markets.
[Via: cubiccapacity]