Ashok Leyland To Acquire 26% Stake In Bus Maker - Optare Plc
Ashok Leyland is acquiring 26% stake UK based bus manufacturer - Optare Plc as a part of long term srategic cooperation. The deal size is estimated to be about $7.5 Mn. The deal values Optra at $29 Mn
With this deal, Ashok Leyland will get access to Optare's technology and newer markets.
Transaction Reference: IndiaInfoline
Founded in 1985, Optare is a bus manufacturer based in Leeds and Blackburn, UK. It manufactures a full range of buses from minibuses to double deckers in its three manufacturing facilities in Leeds and Blacburn. It has a turnover of about $125 Mn.
Optare has been posting losses for past two fiscals and has been struggling to raise funds even for the working capital.
However, it recently got a $4 Mn order for 25 Optare Solo midibuses with an option for a further three from Syntus, one of leading integrated public transport providers in The Netherlands.
Ashok Leyland has been advancing its bus business with purpose built bus-plants in Alwar in India and Ras Al Khaimah in the United Arab Emirates, and a new range of both city buses and inter-city coaches.
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KVEZAR VIEW
DEAL TRACKER FOR
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 21/12/11 | Optare Plc - Ashok Leyland | M&A | Ashok Leyland Limited | - |
| 29/07/10 | Optare Plc - Ashok Leyland | M&A | Ashok Leyland Limited | 7.50 |
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Profiles
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Ashok Leyland Limited | Hinduja Group | No. 1, Sardar Patel Road, Guindy |
Tata Motors Limited Tata Cummins Limited |
www.ashokleyland.com |
| 1 | October 26, 2010 07:18 AM |
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