Sunday, June 10, 2018

Tata Motors may divest stake in arm

Tata Motors is open to divesting stake in its financing arm, Tata Motors Finance, which is expected to have ₹50,000 crore of assets under management by 2020, according to officials.
The firm, however, intends to keep control in Tata Motors Finance Ltd., an entity which it expects to play a key role in its growth.
“Of course, we are very clear that we will now continue to invest as far as Tata Motors Finance is concerned. We will maintain control as far as Tata Motors Finance is concerned. But clearly, there is no intention to say that it should always hold at 100%. That is also clear,” said Tata Motors Group CFO P.B. Balaji.

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