Tata Motors to buy 21 pct of Spanish bus firm

Newswire

BOMBAY, Feb 25 (Reuters) - India's largest truck and bus maker Tata Motors Ltd. said on Friday its board had approved the purchase of 21 percent of Spanish bus maker Hispano Carrocera S.A. in a deal worth 12 million euros ($16 million). Tata Motors said it has the option to acquire a 100 percent holding in Hispano Carrocera, which has a 25 percent share in the bus market in Spain, it said. The purchase comes just over a year after Tata Motors made its first foreign acquisition, the $102 ...

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