Japanese auto majors Toyota Motor Corporation and Suzuki Motor Corporation on Wednesday said they will acquire stake in each other as they seek to strengthen their alliance. As part of a capital alliance agreement, Toyota will acquire 2.4 crore shares of common stock in Suzuki (4.94 per cent stake) for 96 billion yen (over Rs 6,510 crore), while Suzuki plans to acquire shares in Toyota equivalent to 48 billion yen (around Rs 3,255 crore).
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Thursday 29 August 2019
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Toyota, Suzuki to acquire stake in each other, strengthen alliance
Toyota, Suzuki to acquire stake in each other, strengthen alliance
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