Mahindra Sells Sampo Rosenlew to TERA, Enabling New Growth Pathways

Mahindra and Mahindra Limited (M&M) the world's largest tractor company by volume, has entered into a Share Purchase Agreement ("SPA") with Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA), whereby the Company has agreed to sell its entire stake in Sampo Rosenlew Oy, a wholly owned subsidiary of the Company (SAMPO) to TERA.

Consequent to completion of the aforesaid transaction, SAMPO would cease to be a wholly owned subsidiary of the Company.

This divestiture aligns with M&M's focus on opportunities that best position the Company for longterm success. Sampo has contributed meaningfully to M&M since it became part of the group. Some of the technologies developed by Sampo have been instrumental in building M&M's farm machinery capabilities. By transitioning its ownership of SAMPO to a new owner, the Company believes it will enable SAMPO to pursue new pathways for innovation and growth building on its rich heritage and understanding of the Finnish market.

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 3426.65 as compared to the previous close of Rs. 3416.90. The total number of shares traded during the day was 39408 in over 4509 trades.

The stock hit an intraday high of Rs. 3452.80 and intraday low of 3394.35. The net turnover during the day was Rs. 134921430.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 MandM SPA TeraYatirimTeknolojiHoldingAnonimSirketi StakeSale SampoRosenlevOy