No interest in buying stake in Swaraj Mazda: Tata Motors
Auto major Tata Motors today said it has no interest in acquiring stake in commercial vehicle maker Swaraj Mazda.
New Delhi: Auto major Tata Motors today said
it has no interest in acquiring stake in commercial vehicle
maker Swaraj Mazda.
"Tata Motors denies any such interest," the company said
in a statement today reacting to recent media reports that it
was considering acquisition of a stake in Swaraj Mazda.
The reports had stated that Tata Motors is looking to
pick up 53.52 per cent stake in Swaraj Mazda, held by Japanese
firm Sumitomo Corp.
Earlier in November, the company was reported to be
exploring the possibility of buying private equity firm Actis`
stake in Swaraj Mazda. Actis has 7.7 per cent direct holding
in the commercial vehicle (CV) maker and a further 9.3 per
cent through CDC, one of its arms.
Swaraj Mazda makes buses and trucks in the 5.5 tonne to
10.5 tonne segment.