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Ashok Leyland gets nod from board to merge light commercial vehicle arm

The company has announced acquisition of the JV companies from Nissan on November 25, 2016, following the LCV Joint Venture they entered into did not proceed as was expected

T E Narasimhan 

Ashok Leyland has received an approval from its board to merge its light commercial vehicle (LCV) subsidiaries, which were acquired from its erstwhile partner Nissan, with itself. The company has announced acquisition of the joint venture companies from Nissan on November 25, 2016.

Both the companies went through a short period of dispute before entering into a settlement agreement, according to earlier reports. The company has announced acquisition of the joint venture companies from Nissan on November 25, 2016, following the LCV Joint Venture they entered into did not proceed ...

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First Published: Mon, June 11 2018. 21:43 IST