Ashok Leyland Acquires 75% Optare for Global Bus Strategy

| India and United Kingdom

Indian bus manufacturer Ashok Leyland, the Hinduja Group flagship in India, together with its associate companies, will increase its stake in the British bus maker, Optare Group Ltd, to 75.1% (subject to approval by the shareholders of Optare plc). The Company had initially acquired 26% stake in Optare in July 2010 as part of a long-term strategic partnership. This move fully integrates Optare into Ashok Leyland’s global strategy for buses. Like Ashok Leyland, Optare produces alt-fuel buses as part of its range, including those powered by natural gas.

(This article compiled using information from an Ashok Leyland press release)

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