Ashok Leyland will buy partner Nissan’s stakes in Ashok Leyland Nissan Vehicles, Nissan Ashok Leyland Powertrain and Nissan Ashok Leyland Technologies.
The partners on Wednesday announced a restructuring agreement in which Nissan agreed to sell to Ashok Leyland all of its shares in the three joint ventures (JV) that were formed in 2008. The value of the transactions was not disclosed.
These companies will become wholly-owned Ashok Leyland subsidiaries. The process is expected to be concluded this year. Ashok Leyland will continue to manufacture under a licensing agreement the Dost and Partner light commercial vehicles that are based on Nissan’s design, engineering and technology. Servicing and spare parts will be ensured by a technical support arrangement. The firms will continue their arrangement to procure spare parts from India for Nissan.
“Under the licensing arrangement with Ashok Leyland, Indian commercial vehicle customers can continue to benefit from Nissan’s engineering with read more..
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