Complex sentence: In October 2006, Ashok Leyland bought a large stake in the Czech based-Avia, later renaming as Avia Ashok Leyland Motors s.r.o., to gain entry into the competitive European market.
Split into simpler sentences: In October 2006, Ashok Leyland bought a large stake in the Czech based-Avia. Called Avia Ashok Leyland Motors s.r.o., this will give Ashok Leyland a channel into the competitive European market.