Wednesday, 21 December 2011

Ashok Leyland Increase Optare Stake to 75.1%

Ashok Leyland has increased its stake in Optare to 75.1% making it the majority shareholder and giving it the majority of voting rights. In July 2010 Ashok bought a 26% shareholding and is now increasing its stake to enable Optare to continue trading, as the company does not have any other means with which to finance its ongoing operations. Without Ashok Leyland's input Optare would be unable to continue to trade.
Optare employs around 500 people across the group, principally at its new assembly facility in Sherburn in Elmet, Yorkshire.

David Gambles