30
Apr
#MahindrastakeSMLIsuzu Chandigarh: Mahindra & Mahindra Ltd (“M&M”) today announced that it has entered into an agreement to acquire 58.96% stake in SML Isuzu Ltd. (“SML”) at INR 650 per share, which is an outlay of INR 555 crore. In addition, M&M will make an open offer in accordance with SEBI Takeover Regulations. The proposed acquisition is a step towards establishing a strong presence in the >3.5T CV segment, where M&M has a 3% market share today, as compared to a 52% market share in the <3.5T LCV segment. M&M’s Trucks and Buses Division has made meaningful progress over the past…
