Tata Motors has fully acquired the Spanish bus company Hispano Carrocera. The Indian group already had a 21% stake in the company, which it has held since 2005.
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Tata has acquired the remaining 79% shares in Hispano by way of exercise of the existing call option, through mutual agreement with the other shareholder, Investalia SA, Spain.
“This acquisition demonstrates Tata Motors’ ongoing commitment to Hispano Carrocera,” the Indian group said.
“After the acquisition, the company will further strengthen the ongoing initiatives to improve operational efficiencies such as productivity improvement, cost reduction, and new product development, to improve market share of the company and enhance brand value.
“Tata Motors is confident that Hispano will now emerge as an even stronger force in the Spanish as well as global bus and coach markets,” it concluded.
