Category Suzuki

Suzuki Motor Corp. buys out Satya Sheel’s stake in SMIPL

Confirming a move that had been anticipated a few months ago, Suzuki has bought out its partner’s stake in Suzuki Motorcycle India Pvt. Ltd. (SMIPL) Satya Sheel and family, who had partnered with Suzuki for its two-wheeler joint venture in India, have sold their 26% stake to Suzuki for an estimated Rs 190 crore. With this, SMIPL becomes a fully owned subsidiary of Suzuki Motor Corporation (SMC), Japan.

Strangely enough, when Suzuki returned to the Indian two-wheeler market in 2006, it chose to go with Satya Sheel, who was earlier on the board of directors at Maruti Suzuki – not, perhaps, something that immediately qualifies him to head Suzuki’s motorcycle business in the country...

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