Isuzu Motors Acquires 11% In SML Isuzu For R60Cr
Sumitomo Corporation has sold 11% stake in SML Isuzu (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%.
Incorporated in 1983, SML Isuzu Limited (formerly Swaraj Mazda Limited) was initially set up under the name of Swaraj Vehicles Limited for the manufacture of LCVs.
Then the company was promoted by Punjab Tractors Limited in technical and financial collaboration with Mazda Motor Corporation, Japan and Sumitomo Corporation. The technical collaboration agreement with Mazda expired in 2004 and Mazda exited by selling off its stake to Sumitomo Corporation.
SML Isuzu on BSE
Around the same time, SML entered into a technical collaboration agreement with Isuzu Motors, Japan. SML operates in the LCV and Medium Commercial vehicle segments of the automobile industry. The company has a manufacturing facility in Nawanshahar, Punjab with a capacity to manufacture 18,000 units and has a product portfolio comprising of buses, trucks, ambulances, water tanks etc.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/04/12 | Actis PE, CDC (Exit) - SML Isuzu - Reliance, Axis, Antique | Capital Market | Antique Stock Broking Ltd | 14.03 |
| 16/04/12 | Sumitomo Corp - SML Isuzu - Isuzu Motors | M&A | Isuzu Motors Limited | 11.62 |
| 09/12/10 | Actis (Exit) - Swaraj Mazda - Isuzu Motors | Private Equity | Isuzu Motors Limited | - |
| 29/12/08 | Swaraj Mazda - Sumitomo Corp. | M&A | Sumitomo Corp. | 8.16 |
| 24/06/05 | Swaraj Mazda - Sumitomo Corp. | M&A | Sumitomo Corp. | 14.51 |
| 31/12/84 | Swaraj Mazda - Sumitomo Corp., Punjab | M&A | Sumitomo Corp. | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 14/05/13 | M&A | Minda Industries Limited | Looking For | - | Planned |
| 25/04/13 | M&A | Denso Corporation | Pricol Components Limited | - | Completed |
| 16/04/13 | M&A | Minda Industries Limited | Clarton Horn S.A.U., Spain | 8.90 | Completed |
| 15/04/13 | Private Equity | Warburg Pincus International | Avtec Limited | - | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| SML Isuzu Limited | Sumitomo Corporation, Japan | Village Asron | Hindustan Motors Limited | http://www.smlisuzu.com |
| Dealforwards |  |
| May 20, 2013...1 |  |
Sequoia Capital Invests In Hector Beverages |
| May 17, 2013...1 | |
ICICI Venture May Invest In Theme Park - Adlabs Imagica |
| May 17, 2013... | Mayfield India Adds Beer Cafe To Its Portfolio |
|
| May 17, 2013... | Aditi Technologies Buys Cloud Computing Firm - Get Cloud Ready |
|
| May 21, 2013... | United Spirits Plans Preferential Allotment To Diageo |
|
- About Us
- Contact Us
- Advertise
