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NEW DELHI: Eicher Motors on Thursday said its Indian promoters have bought out the 3.18 per cent stake held by Mitsubishi Motor Corporation in it for an undisclosed amount.

“Mitsubishi Motor Corporation’s (MMC) entire shareholding of 8,47,430 shares, representing 3.18 per cent of the outstanding shares of Eicher Motors Ltd (EML) have been purchased by the Indian promoters of EML,” the company said in a statement.

This takes the Indian promoters’ shareholding in EML to 55.93 per cent from 52.75 per cent, it added.

MMC was a part of the original promoters of EML along with Eicher Goodearth Investments Ltd and the latter had the first right of refusal in case MMC wanted to sell its stake in EML.

The stake sale was carried out off market through an inter se transaction between the promoters, it added. — PTI

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