Acquisitions4 Jun 2025, 09:48 am
Ashok Leyland Subsidiary Acquires 1.01% Stake in Switch Mobility UK
AI Summary
Ashok Leyland Ltd. announced that its subsidiary, Optare Plc. UK, has entered into a Share Purchase Agreement with Dana Ltd. for the purchase of their 1.01% stake in Switch Mobility Limited, UK (SML UK). This acquisition will increase Optare Plc.’s shareholding in SML UK from 98.56% to 99.57%. Following this acquisition, Optare Plc. UK along with Hinduja Automotive Limited, UK, will hold 100% in SML UK. The event occurred on June 3, 2025, at 10:36 P.M. (IST).
Key Highlights
- Ashok Leyland's subsidiary, Optare Plc. UK, to acquire 1.01% stake in Switch Mobility Limited, UK (SML UK)
- Post-acquisition, Optare Plc.’s shareholding in SML UK will increase to 99.57%
- Optare Plc. UK and Hinduja Automotive Limited, UK, will hold 100% in SML UK
- Share Purchase Agreement signed between Optare Plc. UK and Dana Ltd.
- Event occurred on June 3, 2025, at 10:36 P.M. (IST)