ASHOK LEYLAND LTD. - Sale of Stake in Avia Ashok Leyland Motors s.r.o.

Ashok Leyland Ltd has informed BSE that the Company has divested its entire stake of 100% ownership interest held in Avia Ashok Leyland Motors s.r.o. to a strategic investor as part of restructuring of investment in subsidiaries. The relevant agreements to this effect have been signed and closing of the deal has been completed.<BR><BR>Consequent to the above, Avia Ashok Leyland Motors s.r.o. has ceased to be a wholly-owned subsidiary of the Company with immediate effect.<BR><BR>The above transaction has resulted in the cash realisation of US$ 10.96 Mn. to the Company.