Hero MotoCorp to absorb investment arm

Hero MotoCorp, India's largest two-wheeler vehicle manufacturer, has approved a proposal to merge the investment arm of its parent into the auto maker, the company said in a statement on Monday.Private equity funds Bain Capital will hold 8.58 per cent and the Government of Singapore Investment Corp (GIC) will own 3.71 per cent in the auto maker through wholly-owned Indian units after the merger, the company said.The private equity fi...