INDIA BUSINESS WORLD - APRIL 1^st - APRIL 15^th - 2008

TATA CO TELCON BUYS 60% IN SPANISH FIRM S

Sealing its second acquisition in a week, Tata group company Telcon has said that it has signed a deal for acquiring a 60% stake in Spanish-based Comoplesa Lebrero SA. An agreement was signed with existing shareholders of Comoplesa, a construction equipment company, to acquire 60% stake in the company, Telcon said in a press release issued here. The balance 40% will be retained by the existing shareholders who will continue to be associated with the venture, the release said. Tata Motors holds a 60% stake in Telcon with the remaining 40%held by Japan’s Hitachi Construction Machinery Company.