Ashok Leyland inks pact to acquire more stake in HLFL

Commercial vehicle maker Ashok Leyland today said it has inked a pact with Everfin Holdings to buy an additional 5 per cent stake in Hinduja Leyland Finance Ltd (HLFL) for Rs 225.42 crore.
The company has entered into a share purchase and shareholder agreement with Everfin Holdings, shareholder of HLFL, for acquisition of 2,04,92,676 shares of Rs 10 each constituting 4.68 per cent share capital of HLFL at a price of Rs 110 per share, Ashok Leyland said in a regulatory filing.
"Consequent to the above, the company's shareholding in HLFL will increase from 57.22 per cent to 61.9 per cent," it added.

Ashok Leyland shares today ended 0.75 per cent up at Rs 114.25 on the BSE.