HOMEIndia News
| Japan's Kubota Corp buys 10% stake in Escorts for ₹1042 crore | Writer | Admin | |||
|---|---|---|---|---|---|
Escorts Ltd – one of
India’s largest tractor manufacturers – on Friday announced its decision to
sell 10% stake to Japanese agri machinery manufacturing major, Kubota Corp,
for ₹1042 crore.
Simultaneously, Escorts will acquire 40% stake in one of Kubota’s Indian
subsidiary, Kubota Agri Machinery India Pvt Ltd for ₹900 crore, in an all cash deal.
Kubota will invest in
Escorts through a preferential issue of 12,257,688 equity shares and the price
will represent a premium of 48.21% over the last traded price on March 19,
2020. With this stake in Escorts, the Japanese major will get a foothold in the
Indian market and integrate the product technology, sales and distribution
network alongside component sourcing and advanced supply chain, the company
said in a regulatory filing. |
| No | Subject | Writer | Date |
|---|---|---|---|
| 299 | Textiles sector EBITDA likely to dip by 15% in FY21: Ind-RA | Admin | 20-04-07 |
| 298 | Coronavirus testing kits: Mylab signs deal with Serum, APG to ramp up production | Admin | 20-04-02 |
| 297 | Merger of 10 public sector banks to come into effect from today | Admin | 20-04-02 |
| 296 | Japan's Kubota Corp buys 10% stake in Escorts for ₹1042 crore | Admin | 20-03-25 |
| 295 | Facebook eyes multi billion dollar stake in Reliance Jio | Admin | 20-03-25 |
| 294 | Thyssenkrupp Elevator opens central spare parts warehouse in Pune | Admin | 20-03-23 |
| 293 | Isuzu Motors starts Phase-II operations at Sri City facility | Admin | 20-03-23 |
| 292 | Govt approves Rs 7,660 cr green highway project in UP, 3 other states | Admin | 20-03-23 |
| 291 | Biggest Indian bank ramps up corporate loans as rivals retreat | Admin | 20-03-19 |
| 290 | Adani Group to foray into petrochemicals with Rs 16,000 crore plant in JV with B… | Admin | 20-03-19 |