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NEW DELHI: Japan's Sumitomo Corporation plans to acquire 15.62 per cent of commercial vehicle maker Swaraj Mazda Ltd. Sumitomo Corporation has proposed to acquire 16,38,000 shares aggregating 15.62 per cent stake of Swaraj Mazda from Mazda Motor Corporation, also a foreign collaborator in the company, subject to conclusion of the share transfer agreement, the automobile maker informed the National Stock Exchange.

The proposed acquisition price per share is 768 yen per share and the shareholding of Sumitomo Corporation after the proposed acquisition will be 43,03,000 shares aggregating 41.03 per cent of the voting rights of Swaraj Mazda Ltd, it added. The date of proposed acquisition is August 18 or later, the exchange was informed.

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