Vectra is part of consortium to acquire controlling stake in Tatra

Mumbai, Nov 2 (UNI) A consortium comprising Vectra Limited, private equity arm of Belgian Bank KBC, and two other investors, has acquired a controlling stake of 92 per cent in the Czech truck manufacturer Tatra a.s. by purchasing the stake held by Terex Corporation of US.

The formalities of the acquision were completed in the past two weeks.

Vectra Group chairman R K Rishi told mediapersons here today that with this acquisition, the Vectra group has taken a decisive and important stride towards creating a truly global-scale business within the automotive sector domain of the group's multi dimensional business portfolio.

''This acquisition is an important component of our strategy to build a global automotive business and will enables us to pursue our vision of building the automotive business as one of the core business of the Vectra Group,'' he added.

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