The Hindu Business Line : Tata Motors to take stake in Spanish co

TATA Motors is to acquire a 21-per cent equity stake in Hispano Carrocera S.A (HC), a Spanish bus manufacturing company, with an option to acquire 100-per cent holding.

Tata Motors will have the licence for technology and brand rights from HC. The total deal comprising equity, debt and technology will add up to 12 million euros (about Rs 70 crore), an official statement said.

HC currently has a 25-per cent share of the Spanish bus market. It also sells its buses elsewhere in Europe and outside Europe. It has its own in-house product development facility for buses and coaches.

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