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Our businesses > Tata companies > Tata AutoComp Systems > Media reports |
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March 26, 2003 | Economic Times
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Tata AutoComp buys into JBM Sungwoo
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JBM Tools has sold its entire investment of 64.8 lakh shares of Rs 10 each in JBM Sungwoo (an unlisted company) to Tata AutoComp Systems (TACO), at a total consideration of Rs 16.2 crore. Last year, Taco acquired a 29.46% stake in JBM Tools at Rs 24.87 per share by way of inter-se transfer among promoters. Post-acquisition, Taco owns 30.7% and and ata Industries 48.8%. Taco acquired the 29.46% stake from the SK Arya group, which together with the Tatas promoted the company. With Taco buying out SK Aryas entire stake, management control now lies with Taco.
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