Maruti Suzuki to acquire 100% of equity shares of Suzuki Motor Gujarat for Rs 12,841.1 crore.
The Suzuki Motor Corporation (SMC) is increasing its stake in Maruti Suzuki from 56.48% to 58.19%. Maruti has also approved the deal to acquire a 100% stake in Suzuki Motor Gujarat (SMG).
According to a statement, the Board of Maruti Suzuki India has approved the issuance of 1.23 crore equity shares of face value of Rs 5 each to Suzuki Motor Corporation at a price of Rs 10,420.85 per share.
The board of Maruti Suzuki India has executed the share purchase and subscription agreement to acquire 100% of equity shares of SMG owned by Suzuki Motor Corporation for Rs 12,841.1 crore.
In August, the company’s board had approved the issuance of shares to SMC on a preferential basis for the acquisition of a 100% stake in SMG. With this acquisition, Maruti Suzuki aims to reduce complexity and consolidate all manufacturing-related activities under one entity.
Source: HT Auto
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