Mahindra & Mahindra Ltd is in discussions with an investor for selling a majority stake in Ssangyong Motor Co as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra will hold 30% or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan Goenka, managing director of the Indian automaker said at a briefing Friday. It expects to sign the term sheet next week and will conclude the transaction by Feb. 28, he said. The company had purchased 70% stake in Ssangyong for $368mn in 2010. “Things have changed drastically in the last 12-15 months,” Goenka said. With the kind of change that’s happening in business scenario and auto industr
Hence then, the article about mahindra in discussions with investor to offload majority ssangyong stake was published today ( ) and is available onGulf Times ( Qatar ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Mahindra in discussions with investor to offload majority Ssangyong stake )