Ashok Leyland to acquire truck business unit of AVIA

Ashok Leyland Ltd has announced that the Company has signed a framework Agreement for acquiring the Truck Business Unit of AVIA as in Prague, in Czech Republic. The acquisition will be through a Special Purpose Vehicle (SPV) and will be subject to fulfillment of various conditions precedent and further subject to the corporate and statutory approvals from both sides. The acquisition is expected to be completed before end of August 2006.

Source : Equity Bulls

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