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Tata Motors in negotiations to buy FSO?


2011-03-28



Tata Motors, the Indian car manufacturer, is in talks about acquiring FSO, the troubled Warsaw auto maker, as it seeks better access to European markets, The Financial Express reported. According to sources cited by the newspaper, Tata is interested in buying the Polish firm as it would give the group a ready assembly unit and direct access to the markets of Eastern Europe. The Indian group has reportedly set aside $1bn (approx. €710m) for small acquisitions in Europe, and the FSO deal would be funded from this source.

Until recently FSO produced Chevrolet Aveo II cars under licence from GM Daewoo, but the agreement has expired, while talks with China’s Chery and India’s Mahindra about contract manufacturing deals ended in failure.

FSO is majority-owned by UkrAvto of Ukraine, with the Polish government holding a minority stake. In 2010 the company put out 45,854 vehicles, down by over 23% compared with 2009.



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