Indian partner buys out Mitsubishi stake in Eicher

MUMBAI - Eicher Motors, the Indian partners of the joint venture with Mitsubishi, bought out the Japanese auto giant’s stake, according to data available with the Bombay Stock Exchange (BSE).

The 3.18 percent stake of Mitsubishi was bought by Siddharth Lal, the managing director of Eicher Motors and other promoters, for an undisclosed amount.

With the acquisition, the promoter shareholding in the company has gone up to 55.93 percent.

Mitsubishi was among the original promoters of the company, along with Eicher Goodearth Investments.

The Eicher Motors stock closed 5.1 percent up on the BSE at Rs.625 Thursday, having touched a high of Rs.664 during the day.