Kubota and Escorts to hold 60% and 40% partnership in KAI
The acquisition (i) in Escorts Limited (Escorts) by Kubota Corporation (Kubota) and (ii) in Kubota Agricultural Machinery India Private Limited (KAI) by Escorts under Section 31(1) of the Competition Act, 2002 has been approved by the Competition Commission of India (CCI).
This will lead to the acquisition of 10 percent of the total issued, subscribed and paid-up share capital of Escorts by Kubota after Escorts completes it’s capital reduction process.
According to the deal, Kubota and Escorts will hold 60 percent and 40 percent shares respectively in KAI.
Kubota is a Japan incorporated agriculture product manufacturing company and offers various machinery that includes tractors, combine harvesters and rice transplanters.
Escorts is incorporated in India as a public limited company and sells agri-machinery and construction and railway equipment in India.
