Kirloskar Oil buys 7.7 cr share of Toyota Kirloskar Motors
Mumbai, Mar 28: Kirloskar Oil Engines has purchased 7.7 crore equity shares of Rs 10 each in Toyota Kirloskar Motor Pvt Ltd (TKML) from Kirloskar Systems Ltd (KSL).
Announcing this, the Company said KSL represents its entire shareholding in TKML, a joint venture between the Kirloskar Group and Toyota Motor Corporation, Japan.
KSL recently acquired 66.20 lakh shares aggregating to 6.82 per cent of the total paid up capital of Kirloskar Oil Engines Ltd (KOEL) on March 7. The mode of acquisition was through inter se transfer of shares and the shareholding of KSL after the said acquisition is 66.70 lakh shares aggregating to 6.87 per cent of the total paid up capital of KOEL.