Date:31/08/2006 URL: http://www.thehindu.com/2006/08/31/stories/2006083105341800.htm

Business - Briefly

Escorts to divest stake in joint venture

MUMBAI: Escorts has received approval from its board to divest the company's entire stake in Carraro India Ltd to its joint venture partner, Italy-based Carraro SpA, for 20 million euro (around Rs. 119 crore), the company informed the Bombay Stock Exchange. The Italian firm holds a 51 per cent stake in Carraro India and Escorts holds the balance.