The Munjal family and Japanese Honda Motors formally announced the end of their 26-year-old joint venture.
After all the speculation surrounding the split, official news confirming the separation marks a new path for the Hero Group to pursue the Indian two-wheeler market as a majority holder. While Honda can also venture out on their own, and possibly even appear as competition for Hero.
At a press conference here, the companies declined to disclose the price negotiations.
“There is a serious corporate governance issue. By not disclosing the price, the Hero group and Honda have made a complete mockery of the system. The board meeting has added to the confusion,” said Anil Singhvi, MD of I-Can Investment Advisors, an investment bank and a shareholder in Hero Honda.
Hero Honda & Honda Motorcycle JV SplitFinalizing Hero-Honda SplitMunjals Gearing Up to Buy Honda stake in JVUpdate : Hero-Honda Joint VentureHero Group To Buy Out Honda’s StakeTags: hero honda, Hero Honda Partnership, Hero-Honda JV, hero-honda news
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