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Ashok Leyland has completed the acquisition of Nissan Motor Company’s stake in the three joint-ventures formed between the two companies-Ashok Leyland Nissan-Vehicle Limited, Nissan-Ashok Leyland Powertrain Limited and Nissan-Ashok Leyland Technologies Limited.
Ashok Leyland has said in a statement that “With all necessary statutory approvals now in place the acquisition was completed for a consolidated consideration of Rs 3/- paid by Ashok Leyland for all the shares of the three JVs.”
The Chief Executive Officer and Managing Director at Ashok Leyland, Vinod K Dasari has said that “We are very positive on the future of the LCV business which is growing. While we have acquired 100% ownership of the JVs, we will continue to be associated with Nissan for the technology of the existing Dost, Partner, and Mitr models. These are very important products for us and hold tremendous potential both within and outside India. Our association with Nissan continues in a new relationship.”
