India: Usha exits Honda Siel Cars joint venture

Shriram Group company Usha International has sold its entire stake in Honda's Indian joint venture, Honda Siel Cars. Under the deal, Usha sold its 3.16% stake to Honda for Rs1.8bn (US$32.56m). "Usha, Honda Siel Cars India (HSCI) and Honda Motor Company, Japan, after working together for 16 years to develop HSCI Subscribe to Automotive World … Continued

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• August 10, 2012