12 September 2024
The Competition Commission of India announced on Tuesday that it had approved the merger of Tata Motor Finance with Tata Capital. The merger, which was announced in June, will result in Tata Capital issuing its equity shares to the shareholders of Tata Motor Finance, thereby giving Tata Motors a 4.7% stake in the merged entity. In a filing to the exchanges on June 4, Tata Motors stated that the Board of Directors of Tata Motors, Tata Capital, and Tata Motors Finance had approved the merger of Tata Motor Finance with Tata Capital through an NCLT scheme of arrangement. "The transaction is in line with Tata Motors' stated objective of exiting non-core businesses and focusing its capital spending on emerging technologies and products," the company said.
The Competition Commission of India announced on Tuesday that it had approved the merger of Tata Motor Finance with Tata Capital. The merger, which was announced in June, will result in Tata Capital issuing its equity shares to the shareholders of Tata Motor Finance, thereby giving Tata Motors a 4.7% stake in the merged entity. In a filing to the exchanges on June 4, Tata Motors stated that the Board of Directors of Tata Motors, Tata Capital, and Tata Motors Finance had approved the merger of Tata Motor Finance with Tata Capital through an NCLT scheme of arrangement. "The transaction is in line with Tata Motors' stated objective of exiting non-core businesses and focusing its capital spending on emerging technologies and products," the company said.
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