Indian-based vehicle manufacturer Ashok Leyland has confirmed that it has acquired a 26% stake in British bus manufacturer Optare. The firm, which is owned by the London-based Hinduja Group, will invest $7.5m in the deal and enter into a long term strategic partnership with Optare.
Blackburn-based Optare will seek to improve its competitiveness in the UK and its export markets through access to Ashok Leyland’s lower-cost supply chain, cooperation in new product development and improved...
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