Honda Agrees To Pay $326M To Buy Out Indian JV Partner

Law360, New York (August 10, 2012, 6:07 PM EDT) -- India's Usha International Ltd. will break up a 17-year joint venture with Japan's Honda Motor Co. by selling its stake in their Indian car-making operation back to Honda for a reported 1.8 billion rupees ($325.8 million), the venture said Friday.

The deal will transfer UIL's 3.16 percent interest — or 18 million shares — in Honda Siel Cars India Ltd. to give Honda complete ownership over the business for an agreed-upon price of 100 rupees per share, according to multiple reports citing a statement circulated by...
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