India's Maruti Suzuki eyes minority shareholder approval
(MENAFN) Maruti Suzuki India plans a minority shareholder approval as part of its plan to outsource production at a new factory to its largest shareholder, Suzuki Motor, according to Arab News
Suzuki Motor Corp plans to invest USD488 million in a new plant in Gujarat state, northern India
However, the move was strongly opposed by leading institutional investors
Maruti Chairman R.C. Bhargava said: "There was a misunderstanding amongst investors and a lot of skepticism about what we were doing, so we have removed the major issues that were bothering investors. We are now confident we will get minority shareholder approval.
Suzuki Motor Corp plans to invest USD488 million in a new plant in Gujarat state, northern India
However, the move was strongly opposed by leading institutional investors
Maruti Chairman R.C. Bhargava said: "There was a misunderstanding amongst investors and a lot of skepticism about what we were doing, so we have removed the major issues that were bothering investors. We are now confident we will get minority shareholder approval.
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