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Report: Nissan Seeks Stake in Defiance Technologies
Nissan Motor Co. is in talks to acquire as much as 40% of India's Defiance Technologies, according to the Economic Times.
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Nissan Motor Co. is in talks to acquire as much as 40% of India's Defiance Technologies, according to the Economic Times.
The newspaper says Defiance, the design and engineering unit of Hinduja Automotive, played a key role in developing the Nissan Go small car and controlling its ultimate production cost.
Defiance is 64% owned by two Hinduja units: Ashok Leyland (29%) and Ashley Holding (35%). The remaining 36% is held by other Hinduja Group companies.
ET implies that Ashok Leyland may be negotiating to sell at least a portion of his stake to Nissan to help reduce debt 27% in the fiscal year that began April 1.
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