SALE OF STAKE IN AVIA ASHOK LEYLAND MOTORS s.r.o. and Ashok Leyland Wind Energy Limited

Chennai, March 30^th, 2015: Ashok Leyland, flagship of the Hinduja Group, today announced that it 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 Company has also divested 48.5% equity stake held in Ashok Leyland Wind Energy Limited (ALWEL), consequent to which, the shareholding of the Company in ALWEL has come down from 60% to 11.5%.  As part of the transaction, the Company has also sold its windmill assets on slump sale basis.  

Both Avia Ashok Leyland Motors s.r.o. and ALWEL have ceased to be a subsidiary of the Company with immediate effect. 

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Alok Saraogi