Ashok Leyland to acquire 7% stake in Hinduja Leyland Finance for Rs 390.49 cr

Ashok Leyland has entered into a Supplemental Share Purchase Agreement with Everfin Holdings, shareholder of Hinduja Leyland Finance (HLFL), for agreeing to acquire collectively, 3,28,14,401 shares of Rs.101- each (constituting 7% in the paid-up share capital of HLFL) at an agreed price of Rs.119/- per share aggregating Rs 390.49 crore.

The agreement to acquire the equity shares of HLFL has been spread over a period of 9 months in various tranches. As and when the company acquires any tranche(s) and if the said acquisition exceeds 2% or more of the equity shares of HLFL, the Company will inform the stock exchanges.

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