M&A
M&M acquires 59% stake in commercial vehicles maker SML Isuzu for Rs.555-Cr
Publicly listed Mahindra & Mahindra will acquire a 58.96% stake in Chandigarh-headquartered SML Isuzu for INR 555 crore.M&M will acquire the entire stake of 43.96 % from Sumitomo Corporation, promoter of SML, and separately also acquire a 15% stake held by Isuzu Motors Ltd for INR 555 crore. The company will also launch an open offer for the acquisition of up to 26% from public shareholders of SML.
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