Maruti Suzuki buys Sumitomo’s stake in JJ Impex
After the acquisition, JJ Impex shall become the wholly owned subsidiary of Maruti Suzuki. India’s top automaker Maruti Suzuki acquired Japan’s Sumitomo Corporation’s stake in their joint venture JJ Impex, a company engaged in automobile service and repair business. The company has approved a 49.13 per cent equity acquisition of JJ Impex from two Sumitomo companies – Sumitomo Corporation and Sumitomo Corporation India Pvt Ltd in Delhi-based JJ Impex. The transaction involves Maruti Suzuki picking up over 34.43 lakh shares [...]