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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 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 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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