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Mergers & Acquisitions | 7 December 2010

Volvo Bus Buys-out Azad Group In Indian JV - Volvo Buses India

by Irfan Khan
Volvo Bus Buys-out Azad Group In Indian JV - Volvo Buses India
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Volvo Bus Corporation has bought out it's partner - Azad Group's 30% stake in Volvo Buses India Private Limited, it will now operate as a wholly owned subsidiary of Volvo Bus Corporation.

The Indian arm is a JV between Volvo and Azad Group's Jaico Automobile Engineering Company Private Limited. The company invested Rs 100 Cr in 2008 in the JV to set up the manufacturing facility as Hoskote near Bangalore.

Transaction Reference: IndianExpress


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