Breaking a 26-year old joint venture, the Munjals-promoted, Hero Group on Thursday said that, as part of a new licensing agreement, it will buy the entire 26 per cent stake of its Japanese partner, Honda, in the Hero Honda company, for an undisclosed amount. The Hero Group, and Honda, presently hold 26 per cent stake, each, in Hero Honda, which started operations in 1984 to become the world's largest two-wheeler maker today. Hero Honda will continue to produce and sell its existing models with continuous flow of new models. However, all future products will be rolled out under the new licensing agreement between Hero Group and Honda. With the promoters parting ways, the Hero Honda brand name will be changed over time. The two companies will be signing a definitive agreement within the next few weeks.