Optare Plc. UK, (Buyer - Subsidiary of Ashok Leyland) has entered into a Share Purchase Agreement with Dana (Seller), for purchase of their 1.01% stake in Switch Mobility, UK (SML UK).

Post this acquisition, Optare Plc's shareholding in SML UK would increase from 98.56% to 99.57% and consequently, Optare Plc. UK along with Hinduja Automotive, UK, will hold 100% in SML UK.