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Japan's Kubota Corp may raise stake in tractor maker Escorts

Economic Times  

Osaka (Japan)-based agriculture and heavy equipment firm Kubota Corp is in talks with the Nanda family - promoters of tractor maker and engineering construction company Escorts - to increase its stake and eventually become a controlling shareholder in the firm. The Faridabad-based Escorts Group is exploring a complete sale of the promoter holding, although this could happen in stages. The Nanda family led by chairman Nikhil Nanda held 36.59% of the listed Escorts at the end of June. Of this, 24.99% is owned via the Escorts Benefit & Welfare Trust.