EX-99.1 2 ttm-ex991_6.htm EX-99.1 ttm-ex991_6.htm

 

Exhibit 99.1

TATA MOTORS LIMITED

Bombay House

24, Homi Mody Street,

Mumbai 400 001, Maharashtra, India

 

 

 

  Proposed transfer of Defense and Aerospace business of Company’s subsidiary to Tata

Advanced Systems Limited (“TASL”)

 

Mumbai, March 30, 2019: Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further to our filing dated May 3, 2018 (“stock exchange letter”) by which it was informed that the Board of Directors at its meeting held on May 3, 2018, had approved (subject to the requisite regulatory and other approvals), sale of Company’s shareholding in TAL Manufacturing Solutions Limited (TAL), a wholly-owned subsidiary, to TASL (“TAL Divestment”), details of which was attached to said stock exchange letter as Annexure C.

 

In furtherance to above and as mentioned in the stock exchange letter - Annexure C, we would like to inform that the Company has availed requiste regulatory and other approvals and has on March 29, 2019, (i) sold its shareholding in TAL to TASL at an enterprise value of Rs. 625 crores for the Aerospace business and (ii) the Company has acquired the non aerospace business from TAL at a value of Rs. 10 lakhs.

 

This is for the information of the exchange and the members.

 

About Tata Motors

Tata Motors Limited (BSE: TATAMOTORS), a USD 45 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. Part of the USD 100 billion Tata group, Tata Motors is India's largest and the only OEM offering extensive range of integrated, smart and e-mobility solutions. Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 109 subsidiary and associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.

With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, Tata Motors is India's market leader in commercial vehicles and amongst the top four in the passenger vehicles market. With 'Connecting Aspirations' at the core of its brand promise, the company's innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, the UK, Italy and Korea. Internationally, Tata commercial and passenger vehicles are marketed in countries, spread across Europe, Africa, the Middle East, South Asia, South East Asia, South America, Australia, CIS, and Russia.

To know more, please visit (www.tatamotors.com; also follow us on Twitter: https://twitter.com/TataMotors)

 

Media Contact Information

Tata Motors Corporate Communications: +91 22-66657613 / indiacorpcomm@tatamotors.com

Safe Harbor: Statements included herein may constitute "forward-looking statements". Forward-looking statements are based on expectations, forecasts and assumptions by management and involve risks, uncertainties, and other factors that may cause our actual results, performance or achievements to materially differ from those stated. We cannot be certain that any expectation,

 

 


 

forecast or assumption made by management in preparing these forward-looking statements will prove accurate, or that any projection will be realized. More detailed information about these and other factors that could affect future results is contained in our annual reports and filings with the Securities and Exchange Commission. Our forward-looking statements pertain to the date of their initial issuance, and we do not undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.