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Hero Investments to buy 26% of Honda Motors’ stake in Hero Honda
As per media reports, Hero Investments Private Limited (HIPL) has agreed to buy Honda
Motors’ 26% stake in Hero Honda Motors for a consideration of ~US $851mn. The
consideration translates into an acquisition price of `739.97/share, a significant ~51%
discount to Hero Honda’s closing price on March 8, 2011. While the company has not
mentioned any reasons for the steep discount, it had already indicated that the buyout of
the stake would happen at a discounted price. We await more clarity on the deal and until
then maintain our Neutral view on the stock
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Hero Investments to buy 26% of Honda Motors’ stake in Hero Honda
As per media reports, Hero Investments Private Limited (HIPL) has agreed to buy Honda
Motors’ 26% stake in Hero Honda Motors for a consideration of ~US $851mn. The
consideration translates into an acquisition price of `739.97/share, a significant ~51%
discount to Hero Honda’s closing price on March 8, 2011. While the company has not
mentioned any reasons for the steep discount, it had already indicated that the buyout of
the stake would happen at a discounted price. We await more clarity on the deal and until
then maintain our Neutral view on the stock
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