Daimler’s Hero truck JV buyout plan goes to CCEA

NEW DELHI: The government on Tuesday referred to CCEA a proposal of German commercial vehicle maker Daimler to buy out its erstwhile partner Hero Group’s entire 40% stake in a joint venture to produce trucks in India.

 

According to an official release, Daimler’s proposal to increase its stake to 100% has been recommended to Cabinet Committee on Economic Affairs (CCEA) for consideration as the initial approval was granted by the CCEA.