Maruti to merge Suzuki Powertrain with itself
New Delhi: Suzuki Motor Corporation’s stake in domestic car market leader Maruti Suzuki is expected to go up 2 per cent to 56.2 per cent.
This follows a proposal to merge Suzuki Powertrain India Ltd with Maruti Suzuki, a move that was approved at a board meeting of the latter on Tuesday.
The regulatory approvals and legal requirements for the merger is likely to be completed by December. "Once the merger is approved, the books of accounts of Suzuki Powertrain will be merged with Maruti Suzuki with effect from April 1, 2012," a company statement said.
Suzuki Powertrain supplies diesel engines and transmissions for Maruti's vehicles. Suzuki Motor holds a 70 per cent share in Suzuki Powertrain, while the remaining 30 per cent is held by Maruti.
The petrol engines are made by Maruti in-house.
(Continued)
Related Content
