October 2, 2008
Tata Buys Stake in Piaggio Aero HOT STOCKS
Tata Group, the Indian conglomerate, has acquired a one-third stake in the Italian aircraft company Piaggio Aero Industries, the Italian company said, without providing financial details of the transaction.
The purchase makes Tata one of the main shareholders, alongside the Ferrari and Di Mase families and Mubadala Development, of Abu Dhabi. The Tata investment consists of buying existing shares and participating in a new capital subscription, Piaggio Aero said. Tata will have three of the nine seats on the company's board, and one of the three seats on its management committee.
Originally published by Reuters.
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