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Article: BRIEFING - ASIA AUTOMOTIVE - JUNE 10, 2009.

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AsiaPulse News
Article date:
June 10, 2009
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10, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

INDIA'S TATA MOTORS RAISES US$97 MLN SELLING TATA STEEL SHARES

MUMBAI - Indian auto giant Tata Motors (BSE:500570), which has been on a fund-mobilisation spree in recent past to repay its debts, on Tuesday raised about Rs 4.57 billion (US$96.7 million) by selling about half of its equity in another group company Tata Steel (BSE:500470).

The shares, amounting to about 1.5 per cent stake in Tata Steel, have been sold to another promoter group entity and the Tata group's holding company ...

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