Daimler to retain 6.64% stake in Tata Motors
According to reports in the media, German company Daimler AG, which is exiting from some of its investments in various automotive companies, has chosen to retain its 6.64% shareholding in Tata Motors.
According to Daimler, there may be good growth prospects in the near future if Tata chooses to buy components for its JLR range, from Daimler.
Daimler’s stake in Tata Motors is estimated to be worth about Rs 900 crore. Tata Motors has a long history of working with Daimler Benz, with the Tata bringing the latter’s trucks to India decades ago, and then also being instrumental in setting up Mercedes operations in India in the 1990s.
[Via: indiaautomotive]
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