Country's leading automaker Tata Motors has signed an agreement to purchase the remaining 49% shareholding from the joint venture partner, Marcopolo SA in Tata Marcopolo Motors (TTML) for a cash consideration of Rs 99.96 crore.

The Indian carmaker has announced that it will procure the remaining shares for a cash consideration of ₹ 99.96 crore, post which, TMML will become a wholly-owned subsidiary of Tata Motors. In its official statement, Tata Motors said that all technologies pertaining to existing bus body products manufactured will continue to vest with TMML. In addition, as part of the transition, Marcopolo S.A. will continue to license the "Marcopolo" trademarks to TMML for a minimum of 3 years with a non-compete provision in India for a corresponding period.  The company further said that the transaction will not result in any impact on TMML's operations or the continued sales and service of the Company's customers"

 The two companies entered this 51:49 Joint Venture in 2006, however, Marcopolo SA  has now decided to exit from the Joint venture.

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