SBI looking at buying stake in Tata Motors Finance

SBI looking at buying stake in Tata Motors Finance
PTI
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First Published: Wed, Feb 24 2010. 04 20 PM IST
Updated: Wed, Feb 24 2010. 04 20 PM IST
Mumbai: State Bank of India (SBI) is eyeing a significant stake in Tata Motors Finance, the vehicle financing arm of Tata Motors, a top bank official said.
“We are looking at the deal of investing in it (Tata Motors Finance),” SBI chairman O P Bhatt said on the sidelines of a conference here today.
The public sector lender would pick-up a significant stake but not a majority in the Tata group company, he said.
“Our investment committee would like SBI to partner in the deal and invest some amount. Before that, however, we need RBI clearance,” Bhatt said.
The deal would give SBI a huge synergy in terms of the commercial business of buses and trucks, he said, adding “We will pick up a significant stake but not a majority stake.”
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First Published: Wed, Feb 24 2010. 04 20 PM IST