Tata Motors Limited (BSE:500570) entered into a share purchase agreement to acquire the remaining 49% stake in Tata Marco Polo Motors Ltd("TMML") from Marcopolo S.A. (BOVESPA:POMO4) for approximately INR 1 billion on December 16, 2020. The transaction will be settled in cash. Post completion of the transaction, TMML will become a wholly owned subsidiary of Tata Motors. TMML reported a turnover of INR 6.5 billion and Profit after tax of approximately INR 210 million for the financial year 2020. The transaction is subject to certain closing conditions to be complied by both parties. The transaction is expected to close on February 28, 2021.

Tata Motors Limited (BSE:500570) completed the acquisition of the remaining 49% stake in Tata Marco Polo Motors Ltd("TMML") from Marcopolo S.A. (BOVESPA:POMO4) on August 29, 2022.