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Escorts, a large Indian conglomerate, was in the process of implementing a restructuring plan when it encountered difficulties with one of its many partners. Fiat-Agri, Escorts'' joint venture partner, wanted to increase its equity stake and its extent of management control in the joint venture. However, Escorts planned to merge this venture with other divisions as part of its restructuring. This case is the third in a series of three. The first case, "Escorts Limited, 1993", 9A95M009, documents the company''s strategy prior to liberalization in India. A second case, "Escorts: A Restructuring Plan", 9A95M011, details Escorts'' 1994 plan of response.