Suzuki Motor buys Indian partner’s JV stake

Japan’s Suzuki Motor Corp. said that it has bought its Indian partner’s 26% stake in a two-wheeler joint venture, Suzuki Motorcycle India Private Ltd. Suzuki Motor bought the stake from Satya Sheel Khosla and Family for around Rs1.8 billion (US$37.6 million) to Rs2 billion (US$41.8 million). Reports said that Suzuki would invest an additional Rs1.5 billion (US$31.4 million) in the two-wheeler business. (December 17, 2008)