Founders, Citi buy Tata Motors shares from Daimler - BSE

MUMBAI Tue Mar 9, 2010 8:23pm IST

Tata Motors buses on display in Mumbai, March 7, 2005. Tata Sons, the holding entity for Tata Group firms, and Citigroup have acquired 8.65 million shares in Tata Motors from Germany's Daimler AG according to data on the Bombay Stock Exchange website. REUTERS/Punit Paranjpe/Files

Tata Motors buses on display in Mumbai, March 7, 2005. Tata Sons, the holding entity for Tata Group firms, and Citigroup have acquired 8.65 million shares in Tata Motors from Germany's Daimler AG according to data on the Bombay Stock Exchange website.

Credit: Reuters/Punit Paranjpe/Files

Related Topics

MUMBAI (Reuters) - Tata Sons, the holding entity for Tata Group firms, and Citigroup have acquired 8.65 million shares in Tata Motors from Germany's Daimler AG according to data on the Bombay Stock Exchange website.

Tata Sons bought 4 million Tata Motors shares at 750 rupees each, while Citi bought 4.65 million shares at 752.41 rupees each, according to the website data.

Daimler had sold about 25.6 million shares at an average of 751.67 rupees each raising 19.24 billion rupees, the stock exchange data showed.

Tata Sons officials were not immediately available for comments.

The rest of the shares were bought by various market investors including mutual funds and some overseas investors, a source with knowledge of the transaction said.

On Monday sources told Reuters that Daimler was selling its entire 5.34 percent stake in Tata Motors for $429 million. This was later confirmed by Tata Motors officials.

Tata Motors shares closed at 770.90 rupees, down 3.2 percent in a weak Mumbai market.

(Reporting by Janaki Krishnan & Prashant Mehra; Editing )

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Nifty Falls

Nifty Falls

The broader index hits lowest in nearly a week on profit taking  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Debt Investment

Debt Investment

India's FII debt limit hike credit-positive, says Moody's  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage