Sunday, February 28, 2021
No menu items!

Tata Motors To Buy Remaining 49% Share In Tata Marcopolo Motors For Nearly Rs. 100 Crore

Must Read

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

Bengal Speaker Rejects Suvendu Adhikari’s Resignation, Says It Flouts Rules of House

File photograph of former TMC chief Suvendu Adhikari"Unless and until I am satisfied that the resignation is voluntary...

COVID-19 | Russia signs more deals with India to make 300mn Sputnik V vaccines

“In India, we have agreements with four large manufacturers,” Dmitriev, the pinnacle of the Russian Direct Investment Fund...

[ad_1]

Brazilian bus and coach producer Marcopolo S.A. has determined to exit from the JV, Tata Marcopolo Motors Limited (TMML) and has provided to promote its 49 per cent shareholding within the JV to Tata Motors.

Tata and Marcopolo S.A. entered the 51:49 JV in 2006 and has launched models like the Starbus
expandView Photos

Tata and Marcopolo S.A. entered the 51:49 JV in 2006 and has launched fashions just like the Starbus

Tata Motors has introduced getting into right into a share buy settlement with Marcopolo S.A. to purchase the remaining 49 per cent shareholding of their Joint Venture (JV) Tata Marcopolo Motors Limited (TMML). The homegrown carmaker has mentioned that it’s going to procure the remaining shares for a money consideration of ₹ 99.96 crore, put up which, TMML will turn into a wholly-owned subsidiary of Tata Motors. The two firms entered this 51:49 JV in 2006 to type one of many largest bus and coach producers globally, nonetheless, the Brazilian bus and coach producer has now determined to exit from the JV.

Also Read: Tata Motors Delivers 26 Low Floor AC Electric Buses To BrihanMumbai Electric Supply and Transport In Mumbai

In its official assertion, Tata Motors mentioned, “All technologies pertaining to existing bus body products manufactured will continue to vest with TMML. In addition, as part of the transition, Marcopolo S.A. will continue to license the “Marcopolo” trademarks to TMML for a minimum of 3 years with a non-compete provision in India for a corresponding period. The transaction will not result in any impact on TMML’s operations or the continued sales and service of the Company’s customers”

0eqmdris

Marcopolo S.A. will proceed to license the “Marcopolo” logos to TMML for at least three years with a non-compete provision in India

Also Read: Coronavirus Pandemic: Tata Marcopolo Plant In Karnataka To Remain Shut For 8 Days

Newsbeep

0 Comments

Since its incorporation, the JV, Tata Marcopolo Motors, has launched a number of fashions in India just like the Starbus and Starbus Ultra bus manufacturers. The JV firm holds manufacturing services in Dharwad and Lucknow the place it builds bus our bodies on chassis. In its assertion, Tata Motors additionally added that Marcopolo S.A. and TMML intend to keep up an open channel for future collaboration alternatives round bus physique designs and technical consulting providers.

For the newest auto information and opinions, comply with carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.



[ad_2]

Source link

Latest News

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

More Articles Like This