Ashok Leyland has completed the acquisition of 58,500,000 shares of Rs 10 each of Hinduja Tech (HTL) from Nissan International Holding BV for a total consideration of Rs 70.20 crore constituting 38% in the paid-up share capital of HTL. Consequent to the said acquisition, HTL has become a wholly owned subsidiary of the company.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines,a defense and special vehicles.