Ashok Leyland has informed that Optare Plc. UK, (Buyer - Subsidiary of Ashok Leyland Ltd.,) has entered into a Share Purchase Agreement with Dana.(Seller), for purchase of their 1.01% stake in Switch Mobility Limited, 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 Limited, UK, will hold 100% in SML UK.
The above information is a part of company’s filings submitted to BSE.