Honda Rs 1.8 billion buyout of the shares of joint-venture car company in India [www.cardvd-player.net]

Japan’s Honda Motor Co. (NYSE: HMC) announced on Friday from a local company, which acquired the car subsidiary in India do not yet have a 3.16% stake in the trading price of 1.8 billion rupees ($ 32.5 million), thus ending a field up to 16 years of cooperative relations.

Indian conglomerate Xirui Mu (Shriram Group)’s Usha International has the entire 3.16 percent stake in the joint venture, ie 1800 shares of stock to a price of Rs 100 per share sold to its joint venture partner in Japan .

Usha and Honda in the past few months in the value of the former holdings of shares in the joint venture negotiations. Last year, Honda sold in India’s largest motorcycle manufacturer’s 26% stake to its Indian joint venture partner Hero Group to focus on their patriotic motorcycle business.

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