Ashok Leyland to buy out Nissan in Hinduja Tech

Hinduja Group f lagship firm Ashok Leyland on Thursday said it has entered an a greement with Nissan Inter national Holding BV to acquir e 38 per cent stake in Hinduja Tech for Rs 70.20 crore.

"The compan y has entered into a share purchase agreement with Nissan International Holding BV to acquire 58,500,000 shar es for a total consid eration of Rs 70.20 cr ore. Consequent to the af oresaid acquisition, HTL will become a wholly owned subsidiary of the company," Ashok Leyland said in a r egulatory filing.

In November 2014, Ashok Leyland had sold 38 per cent stake in HTL to Nissan for an undisclosed sum.