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

Shortpedia

Content Team
Image Credit: shortpedia

Tata Motors on Thursday said it will buy out its partner's stake in bus joint venture (JV) firm Tata Marcopolo Motors for around Rs 100 crore. "After a successful venture in India, and as a consequence of its refreshed business strategy, Marcopolo S.A. has decided to exit from the JV and offered to sell its 49 per cent shareholding in the JV to the company," Tata Motors said in a regulatory filing.