JSW group will acquire a 35% stake in MG Motor India, a unit of China's SAIC. Jindal had been eyeing the auto industry for several years and chose MG Motor India as the Chinese company faced difficulties due to fund-raising restrictions. Jindal is expected to gain a majority 51% stake over the next few years as MG Motor goes for an IPO and new financial investors enter. The deal will provide Jindal with access to a range of automotive technologies and allow MG Motor to expand in India and pursue acquisitions.
from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iAMdl96
Subscribe to:
Post Comments (Atom)
Dow soars over 1,300 pts, Sensex 900 pts
Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory...
-
A woman, in her early 20s, was stabbed to death by a man in southeast Delhi's Bhogal area on Friday evening, following which the accused...
-
Collecting Lego — yes, the plastic toys made of interlocking bricks that become cars and castles and robots —returned more than large stocks...
-
The Delhi High Court on Thursday dismissed the pleas of TTV Dhinakaran and VK Sasikala challenging the Election Commission's order grant...
No comments:
Post a Comment