Japanese auto major Suzuki Motor Corporation's stake in subsidiary Maruti Suzuki (MSI) has increased to 56.21 per cent post the merger of its engine and transmission maker Suzuki Powertrain with India’s largest car maker.
Suzuki Motor Corporation (SMC) has acquired additional 4.36 per cent in MSI taking its stake to 56.21 per cent from 54.21 per cent, according to a MSI filing to the BSE.
As per the merger agreement, the swap ratio was fixed at 1:70, which meant SMC received one share of MSI of Rs.5 each for every 70 shares of Rs.10 each it held in SPIL.
