News & Analysis » India
Ashok Leyland To Buy 26% Stake In UK's Optare
(RTTNews) - Ashok Leyland said on Thursday that it had reached an agreement with U.K.-based bus manufacturer Optare Plc to subscribe for a 26% stake in the company for about $7.5 million as part of long-term strategic cooperation.
The deal is expected to benefit the Indian commercial vehicles manufacturer in its endeavor to accelerate technology, new product development and address new markets. Ashok Leyland will have access to Optare's technology including a modern range of mid-size and full-size city buses which will appeal to several global markets.
"Ashok Leyland can build on synergies in the global bus business, and the two companies can simultaneously advance capabilities and market access in a more efficient manner," Dr. V. Sumantran, Executive Vice-Chairman, Hinduja Automotive and member of the Ashok Leyland board, said in a statement.
Ashok Leyland shares closed down 0.55% at Rs.71.95 on the NSE Thursday.
Stock Market Forum
- how do you find canada stocks to trade?
3 February 2012
- my stock to watch for tomorrow-CLD
3 February 2012
- Dynamic levels is all about showing the stock levels for last 12 years.
19 January 2012
- Bank of England Keeps Base Rate unaffected at 0.50%
13 January 2012
- Oil price rise fuels India's inflation
4 January 2012
- How to invest in stock market
27 December 2011
- Four Secrets to invest in Stock Market: Beginners Guide
27 December 2011
- Food inflation plunges to 4-year low of 1.81%
22 December 2011
- Nifty delete certain posts gains on GDP data
22 December 2011
- Big Ben's Investing
22 December 2011