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Home arrow News arrow Mergers and Acquisitions arrow Tata Motors acquires remaining 79% in Hispano Carrocera, completes buyout
Tata Motors acquires remaining 79% in Hispano Carrocera, completes buyout Print E-mail
Written by Vijay   
Wednesday, 21 October 2009
Mumbai: Tata Motors has completed the buyout of Hispano Carrocera, a luxury bus manufacturing company. Tata Motors, which had a 21% stake in Hispano Carrocera S. A., Spain, since 2005, has acquired the remaining 79% shares in Hispano by way of exercise of the existing call option, through mutual agreement with the other share-holder, Investalia S. A, Spain.

In 2005, Tata Motors had paid nearly 12 million Euro for equity, brand rights and technology licensing from Hispano.

Hispano has 2 manufacturing facilities in Zaragoza (Spain) and Casablanca (Morocco). In India the Hispano coaches are manufactured at the Automobile Corporation of Goa, where the Tatas have a 43% stake.

After the acquisition, the company will 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," the company said in a statement.

Last Updated ( Wednesday, 21 October 2009 )
 
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