India's Maruti to hold 70 pct stake in new car JV

Newswire

NEW DELHI, Sept 23 (Reuters) - India's biggest car maker Maruti Udyog Ltd. will hold a 70 percent stake in a new car assembling joint venture with Japanese parent Suzuki Motor Corp. , its chief executive officer said on Thursday. Suzuki, Japan's fourth-largest auto maker by stock value and one-fifth owned by General Motors Corp. , will hold the remaining stake in the facility. Shares in Maruti slid last week after the plans for the joint ventures were announced on fears of a diminished ...

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