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Ashok Leyland Acquires 100 Percent Of Nissan's LCV Division
Ashok Leyland has acquired Nissan’s LCV division completely in the Indian market. Development of existing Ashok Leyland Nissan products will continue with spare parts and service availability.
Ashok Leyland has now confirmed that its has acquired 100 percent stake in Nissan's Light Commercial Vehicle (LCV) division. Nissan and Ashok Leyland came to a consensus on acquisition agreement sometime during September 2016.
Previously, Ashok Leyland was in three joint ventures with Nissan. They are Ashok Leyland Nissan-Vehicles Limited, Nissan-Ashok Leyland Powertrain Limited, and Nissan-Ashok Leyland Technologies Limited. All three Nissan entities have been acquired by Ashok Leyland.
The acquisition of Nissan LCV division by Ashok Leyland was completed for a consolidated consideration of Rs. 3 for all the shares of the three joint ventures. Ashok Leyland will continue manufacturing the Dost, Mitr, and Partner LCVs.
Nissan and Ashok Leyland's association will continue even after acquisition. The duo has agreed to procure made-in-India parts for Nissan. Parts availability and servicing will be ensured by a technical support arrangement for all LCV owners.
