General Motors Co has raised its stake in its Indian joint venture with China's SAIC Motor Corp to 93 percent as the US automaker ramps up its presence in a fast-growing market for cars.
GM, which sold a 50 percent stake in its Indian business to SAIC in 2009, purchased the additional 43 pct stake for an undisclosed amount, local media reported on Tuesday.
P Balendran, GM India vice president, told Reuters the reports were correct but declined to provide details.
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