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NRI's Hinduja Brothers Expected to Own Majority Shares in Optare
Bangalore: Optare, the British bus makers will decide the majority stake holders of their company on January 6th, 2012. The Hinduja Group, an elite business group headed by Indian brothers favorites to buy the major stake in Optare. Presently, the Hinduja’s own a stake of 26 percent in the company through Asok Leyland, an HCV manufacturer.
The biggest challenge to Hinduja Group is Alexander Dennis, a UK based bus and coach manufacturers group backed by Sir. Brian Souter as they are also trying to get hold of a chief share in Optare.
An amount of 12 million pounds, as a loan deal has been offered by Hinduja Group to Optare and they have asked for a share placing of 4 million in return which will increase their shares to 75.1 percent, thrice the current share. The final decision will be made in a general meeting of Optare where shareholders will be voting to decide which company should own the major shares.
Hinduja Group is a multi-national company founded in the year 1914 which has its headquarters in London. The group is owned by Srichand Hinduja and Gopichand Hinduja, who are generally known as the Hinduja brothers. Hinduja Group achieved the Life achievement award instituted by the Asian Business awards in the year 2010.