Here Honda which is a Joint Venture between Japanese Automajor Honda and the Hero Group of India is restructuring such that Honda will exit the JV.Note Hero Honda has been immensely successful over the last 2 years riding a vehicle boom in India.While other autos stocks like Mahindra,Tata Motors have risen a lot,Hero Honda has been the star with its leading marketshare in the motorcycle market of India.The terms of the deal in which Honda will sell its 26% stake in the company to the Hero Group is very damaging to minority investors in the JV.According to the deal proposed by the Hero Group and accepted in principle by Honda,the Hero Group will get the 26% at a sharp discount from its market price and in return Honda will get much higher royalties for the next 3 years.This is an open and blatant looting of the minority investors.Note the beneficiaries of this deal will be the promoters at the expense of minority investors since they will have to bear the burden of much higher royalties in the future.