Tata International executes definitive agreement with Canyon Point Tata International, a 50:50 joint venture (JV) company between Tata International and Sri Lanka based Dutch Lanka Trailer Manufacturers (DLTM) has executed definitive agreement to sell their company to Canyon Point Investment.
In a parallel transaction, TRF, through its affiliate has also executed definitive documents to sell its 100 percent stake in Dutch Lanka Trailer Manufacturers to Canyon Point Investment.
The total deal value of both the transactions put together is Rs 305 crore, subject to adjustment of actual debt in DLTM. Tata DLT’s product portfolio comprises of a wide range of trailers, semi-trailers, tippers and vehicle carriers. Leveraging on its manufacturing bases established across Pune (two plants), Ajmer and Jamshedpur.
DLTM sells its products in both the Sri Lanka market as well as exports to Asia, the Middle East and Africa and specializes in road and port trailers.