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Tata Motors, one of the leading automobile manufacturers of India, has completed the acquisition of Spain-based coach manufacturer Hispano Carrocera SA, by acquiring the rest of the 79% stakes.
"Tata Motors, which had a 21 percent stake in Hispano Carrocera since 2005, has acquired the remaining 79 percent shares in Hispano by way of exercise of the existing call option, through mutual agreement with the other share-holder, Investalia SA," the company said.
Tata Motor mentioned that the primary focus of the firm will be on the productivity improvement, cost reduction and new product development" to improve Hispano's market share and enhance brand value”.
"Tata Motors is confident that Hispano will now emerge as an even stronger force in the Spanish as well as global bus and coach markets," it added.
