Hero Completes Honda Buyout In JV

Hero Honda has announced the complete exit of Honda from the joint venture. The Japanese automaker has completed the transfer of all its shares and voting rights in Hero Honda to Munjal owned Hero Investments. The buyout has made Hero Investments the largest shareholder of the company with 43.33% share, up from 17.33% before Honda’s exit. This news did not have any effect on investors with Hero Honda stock trading positive at the Bombay Stock Exchange.