News Breaks
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| 07:29 EDT |  | TTM |
| theflyonthewall.com: | Tata Motors eyes purchase of Actis' stake in Swaraj Mazda, Economic Times says | | Tata Motors (TTM) is exploring the possibility of buying an equity stake in commercial vehicle and bus maker Swaraj Mazda, from private equity major Actis, the Economic Times reports. Actis owns a 7.7% stake in Swaraj and another 9.3% through it's CDC unit. Tata's move to look at Actis' stake was triggered after the private equity major started considering exit options from its investment. The 7.7% Actis stake is also learnt to have attracted other auto majors and a Kolkata-based engineering firm, besides other private equity funds that are looking to enter the fast-growing Indian auto market, estimated to grow at 8-10% this fiscal year. Reference Link :theflyonthewall.com |
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