Force Motors has sold and transferred 55,797,100 equity shares of Rs 10 each of MAN Force Trucks (MFTPL) to MAN Truck & Bus AG (MAN) for a consideration of Euro 150,000,000.
Earlier on November 21, 2011, Force Motors and MAN Truck & Bus AG, Munich, Germany, the joint venture partners of MAN Force Trucks (MFT) reached an agreement in principle to reorganize their shareholding in the equity share capital of MFT and to rearrange their relationship in respect of MFT.