<http://www.dealcurry.com/2010104-Tata-Motors-Acquires-80-In-Italy-s-Trilix-For-2-5-Mn.htm>
*Tata Motors Ltd* has acquired 80% stake in *Trilix Srl., Turin (Italy)* for a consideration of $2.5 Mn, thus valuing the company at $3.125 Mn . This acquisition will enhance Tata Motors design capabilities. The remaining 20% stake is equally held by its promoters *Bryn Jones, Federico Muzio* and *Justyn Norek*. Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility and detailed engineering development. Its other services include physical models, CAE and manufacturing process feasibility. * LMS Studio Legale*, Milan (Italy), acted as a legal advisor for this deal. Transaction Reference: Moneycontrol <http://www.moneycontrol.com/news/business/tata-motors-acquires-80-stakeitaly%E2%80%99s-trilix_488677.html> Transaction Note Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. Its other services include physical models, CAE and manufacturing process feasibility. In 2009, Trillix had a turnover of $5.48 Mn with an EBIDTA of $0.74 Mn and a profit after tax of $0.34 Mn. Both the companies have in the past worked together on several projects. Trilix was also involved in designing Tata's 'Nano' car On the other hand, Tata motors is raising $750 Mn via QIP. It intends to use the proceeds primarily for reducing debt, capital expenditure and long-term capital requirements, among other things. Citigroup Inc. and Credit Suisse Group AG are managing the QIP issue. Tata Motors posted net income of Rs.1990 Cr ($447 Mn) in the quarter ended June 30, compared with a loss of Rs.330 Cr a year earlier as demand for vehicles rose in India and overseas. Jaguar Land Rover, which Tata acquired for $2.5 Bn from Ford Motor Co. in 2008, had a profit of 221 million pounds ($348 Mn) in the quarter. Tata Motors sold a 20% stake in its construction equipment venture to Japanese partner Hitachi Construction Machinery Co. for Rs.1,160 Cr in March. Tata raised Rs.4,100 Cr through a rights offer in October 2008. The company’s founders, the Tata Group, invested Rs.3,000 Cr by subscribing to the offer, which included shares with lower voting rights. The ‘A’ shares entitled one vote for every 10 shares and offered five percentage points more dividend than ordinary shares. Tata was the first Indian company to sell the shares with differential voting rights. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
