Date:04/12/2008 URL: http://www.thehindu.com/2008/12/04/stories/2008120455741600.htm

Business

MAN to hike stake in JV with Force Motors

MUMBAI: Force Motors on Wednesday said that it would sell 14.2 per cent stake in its 70:30 joint venture, Man Force Trucks, to its partner Man Nutzfahrzeuge of Germany, for Rs. 300 crore. MAN Force Trucks will acquire additional equity in the venture to reach a level of 50 per cent. The joint venture is engaged in manufacturing heavy commercial vehicles.