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Mergers & Acquisitions | 16 April 2012

Isuzu Motors Acquires 11% In SML Isuzu For R60Cr

by Charmi Gutka
Isuzu Motors Acquires 11% In SML Isuzu For R60Cr
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Sumitomo Corporation has sold 11% stake in @SML_Isuzu_Limited (erstwhile Swaraj Mazda) to Isuzu Motors for about R60Cr in a negotiated sale.

According to the filing, Sumitomo Corporation transferred 15,91,881 equity shares, representing 11% stake in the company, to Isuzu Motors.

Post this transaction, Sumitomo Corp's holding in the company has come down to 43.96% from 54.96%, while Isuzu Motors' holding has gone up to 15%.

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Zoomcar Secures Funding From Sequoia Capital, Others

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Bangalore based ZoomCar India Private Limited, a self-driven car rental startup, has raised $8 Mn in new round of funding led by Sequoia Capital India. Other investors include former Infosys CFO Mohandas Pai and Manipal Group's head of corporate affairs Abhay Jain.

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