Japanese tractor major Kubota eyes majority shareholding in Escorts

Picks up 5.9% more for Rs 1,873 crore

Escorts Tractors
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The new entity, that will be run jointly by the Nanda family and Kubota Corp, is aimed at creating a potent force in the farm machinery and agricultural equipment space, the companies said

Shally Seth Mohile Mumbai
Japanese tractor major Kubota Corp is putting in Rs 1872.74 crore to pick up an additional 5.9 per cent stake in Escorts Ltd, according to a multi-layered deal announced on Thursday. Kubota, which will now hold 14.9 per cent in the Nanda family-owned Escorts, plans to infuse Rs 9400 crore to become a majority shareholder later.
The new entity, that will be run jointly by the Nanda family and Kubota Corp, is aimed at creating a potent force in the farm machinery and agricultural equipment space, the companies said.

At the end of the three-tier deal, Kubota Corporation’s stake will increase

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First Published: Nov 18 2021 | 10:06 PM IST

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