MoneyWorks4Me

Hero to buy 26% of Hero Honda Motors for $851 mn

09 Mar 2011 Evaluate

Hero Investments has agreed to buy Honda Motors Ltd's 26% stake in Hero Honda Motors for around $851 million in a deal that will see the Japanese automaker exit its joint venture in India after more than 26 years. Hero Investments is buying the stake at Rs 739.97 a share, it said in a statement. The Hero Honda joint venture was India's largest motorcycle manufacturer with more than half the domestic market. Honda also has a wholly owned subsidiary in India, which makes motorcycles and scooters.crackcrack

Peers
Company Name CMP
Bajaj Auto 10417.00
TVS Motor Company 4093.00
Hero MotoCorp 5230.00
Eicher Motors 7280.00
OLA Electric Mobilit 35.01
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