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

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