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Rediff News  All News  » Business » Sumitomo buys 15% stake in Swaraj Mazda

Sumitomo buys 15% stake in Swaraj Mazda

August 19, 2005 12:24 IST
Sumitomo Corporation has acquired 15.62 per cent stake in Swaraj Mazda held by its foreign partner Mazda Motor Corporation.

Sumitomo Corporation, a Japanese collaborator and promoter in Swaraj Mazda has acquired 16,38,000 shares aggregating to 15.62 per cent of the total paid up capital of Swaraj Mazda from Mazda Motor Corporation, it informed the National Stock Exchange.

The proposed acquisition price per share is 768 yen per share and the shareholding of Sumitomo Corporation after the proposed acquisition will be 43,03,000 shares aggregating 41.03 per cent of the voting rights of Swaraj Mazda Ltd, it added.

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