NEW DELHI – The Indian government has decided to sell 8% of its 18.28% residual holding in Suzuki Motor Corp.-controlled Maruti Udyog Ltd. But it only will sell the shares to government-controlled banks and institutions. That means even without a board seat, the government will continue to have veto power over crucial board decisions, as well as indirect control over operations through the new stakeholders. Maruti Alto The government’s recent announcement of its divestiture was ...
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