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Yamaha Acquires Stake in Indian Partner

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NEW DELHI, India (28 April 2000)–Japanese motor giant Yamaha Motor Company (YMC) has acquired another 24% share in its India joint venture Escorts Yamaha Motor Ltd. from its partner Escorts Ltd. Previously, both company’s had a 50% share in the venture. The ratio is now 74:26 in favor of Yamaha. According to Escorts, Yamaha paid […]

NEW DELHI, India (28 April 2000)–Japanese motor giant Yamaha Motor Company (YMC) has acquired another 24% share in its India joint venture Escorts Yamaha Motor Ltd. from its partner Escorts Ltd. Previously, both company’s had a 50% share in the venture. The ratio is now 74:26 in favor of Yamaha. According to Escorts, Yamaha paid approximately US$50 million for the deal. “The joint venture partners decided it would be appropriate for YMC, as a technology provider, to take the leading role in the business,” said Mr. Rajan Nanda, chairman of the Escorts Group. Escorts will continue to provide a strong base for manufacturing facilities, dealers network and manpower. EYML currently has about 14% share in India’s growing motorcycle market. Last year the company saw its sales jump 34.1%. (SH)

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