New Delhi: The Competition Commission of India (CCI) has approved the acquisition of 4.94% shareholding in Suzuki Motor Corporation (SMC) by Toyota Motor Corporation (TMC) and the acquisition of 0.24% shareholding in Toyota by Suzuki.
Toyota Motor Corporation is a Japanese multinational automotive manufacturer that also provides services in other fields such as housing, financial services, communications, marine and biotechnology, and afforestation.
In India, Toyota is engaged in the manufacturing and sale of automobiles through its subsidiary, Toyota Kirloskar Motor Pvt Ltd, and in providing financial services through its subsidiary, Toyota Financial Services India. Toyota is also engaged in the sale of commercial vehicles through its indirectly held joint venture, Hino Motors Sales India Pvt Ltd.
Suzuki Motor Corporation is a Japanese multinational corporation inter alia engaged in the business of automobiles, motorcycles and outboard motors.
In India, Suzuki is engaged in the manufacturing and sale of automobiles and two wheelers through its subsidiaries viz. Maruti Suzuki India Ltd, Suzuki Motor Gujarat Pvt Ltd and Suzuki Motorcycle India Pvt Ltd.
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