Tata Motors to sell 20% stake in Telcon to Hitachi for 220 million dollars

摘要

TATA Motors, India's largest vehicles maker, is selling about 20% stake in its equipment and services unit to Japan's Hitachi Construction Machinery Co for roughly 220 million dollars, a source with direct knowledge of the deal said. Telco Construction Equipment Company (Telcon), in which Tata Motors holds 60% stake and Hitachi 40%, supplies a wide range of construction equipment such as excavators, mining shovels and dumpers to the construction and earth-moving sector.