(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.
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