Kubota Corporation has announced that Kubota and the Indian tractor manufacturer Escorts Limited have reached an agreement under which Kubota will increase its shareholding in Escorts by means of subscription to third-party preferential primary share allotment and open offer bid.
According to a recent report from The Economic Times, citing "people aware of the matter," Kubota is in talks to increase its stake in and eventually become a "controlling shareholder" of Indian tractor manufacturer Escorts.
According to a report from ETAuto, following a nationwide shutdown in India due to the COVID-19 pandemic, the opening of a factory meant to produce tractors for a joint venture between Kubota and Escorts has been delayed.
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