New Delhi, Aug 8 (PTI) Maruti Suzuki India on Tuesday said its board has approved issue of shares on preferential basis to Suzuki Motor Corporation (SMC) as consideration for the acquisition of 100 per cent stake in Suzuki Motor Gujarat.
The transaction is expected to enhance SMC’s stake in Maruti Suzui India to 58.28 per cent from 56.4 per cent currently.
Post such acquisition, Suzuki Motor Gujarat (SMG) will become a wholly-owned subsidiary of the company, Maruti Suzuki India (MSI) said in a regulatory filing.
Source :- https://www.ptinews.com/news/business/maruti-to-issue-shares-on-preferential-basis-to-parent-smc-for-100-pc-stake-in-gujarat-unit/626175.html
