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Mergers & Acquisitions

Tata Motors acquires Marcopolo’s shares in the 16-year-old Indian bus JV

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By RACE Innovations Pvt Ltd - 7th December 2022

Marcopolo-badged buses ready to leave Tata Motors' now wholly-owned facility in Pithampur

India / Brazil - Tata Motors Ltd of Mumbai, has completed the acquisition of the 49 per cent stake owned by Brazil’s Marcopolo SA of Rio Grande do Sul, in their Indian-based bus body manufacturing joint venture, Tata Marcopolo Motors Ltd (TMML).

In December 2020, Tata Motors Ltd and Marcopolo SA entered into an agreement, under which Tata Motors agreed to purchase the 49 per cent shareholding in the joint venture belonging to its Brazilian partner for USD 12.19 million. The 51:49 JV was formed in 2006.

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