Volvo to partner Ashok Leyland?

44668 Investors following Ashok Leyland. Share this News with them.

0

Like this story, share it with millions of investors on M3

Volvo to partner Ashok Leyland?

Ashok Leyland may bring in a new equity partner soon. Sources say Swedish truck maker, Volvo is in final stages of talks to buy, what they call a 'significant stake' in Ashok Leyland, reports CNBC-TV18.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » RELATED NEWS Here comes Ashok Leyland's Comet! Volvo, Jaico ink pact to start JV for bus body production Volvo takes major stake in Nissan Diesel ALSO READ See latest News about Ashok Leyland See previous management interviews See what other Experts & Brokerages are saying about Ashok Leyland Ashok Leyland BSE | NSE 25/05/12 Are Mutual Funds betting on Ashok Leyland?

Ashok Leyland may bring in a new equity partner soon. Sources say Swedish truck maker, Volvo is in final stages of talks to buy, what they call a 'significant stake' in Ashok Leyland, reports CNBC-TV18.

They said it may be also a complete buy out, which Dheeraj Hinduja, Vice Chairman of Ashok Leyland flatly denied. With new competitors like MAN and Navistar entering India, Volvo is looking at ways to strengthen its foot hold here. And an equity alliance with Ashok Leyland may be one way to do it.

When contacted, Managing Director of Ashok Leyland declined to comment and Volvo could not be contacted despite repeated attempts. Ashok Leyland sold 56,747 vehicles last year and Volvo sold 655 trucks in India.