Ashok Leyland’s subsidiary -- Optare Plc. UK has entered into a share purchase agreement with Dana, for purchase of their 1.01% stake in Switch Mobility, UK (SML UK). Post this acquisition, Optare Plc’s shareholding in SML UK would increase from 98.56% to 99.57% and consequently, Optare Plc. UK along with Hinduja Automotive, UK, will hold 100% in SML UK.
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, defense and special vehicles.
