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BSE SENSEX
73,828.91
-200.85
-0.27 %
Corporate Announcement
Security Code
500182
Company
Hero MotoCorp Ltd
Exchange Received Time
22/03/2018 16:47:52
Exchange Disseminated Time
22/03/2018 16:47:58
Time Taken
00:00:06
Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 |
3/22/2018 4:47:53 PM
We wish to inform that Hero MotoCorp Limited (the 'Company') through its wholly owned subsidiary, HMCL Netherlands B.V. ('HMCL BV'), entered into a joint venture agreement in 2014 (as subsequently amended from time to time) and certain ancillary agreements inter alia, for sale, distribution and marketing of the Company's products in Colombia. The joint venture is being implemented through a joint venture company incorporated in Colombia, i.e. HMCL Colombia S.a.S (the 'JVC'). Pursuant to subsequent investment by HMCL BV into the share capital of the JVC,the equity interests/shareholding of the joint venture partners in the JVC have been re-aligned whereby the Company's equity interest/shareholding in the JVC (through HMCL BV) has increased to 68%, on a fully diluted basis, from 51%; and the other joint venture partner's equity interest/shareholding in the JVC, held through Woven Holdings LLC, has decreased to 32%, on a fully diluted basis,from 49%.
Kindly take the same on your records.
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