The proposed buyout by Mahindra and Mahindra Ltd of its French partner comes two years after it acquired a 51% stake in MTW Europe. Photo: MintMumbai: Mahindra and Mahindra Ltd will acquire the stake it does not own in a two-wheeler joint venture with Peugeot Motorcycles SAS for Rs196 crore. After the acquisition is completed, the venture Mahindra Two Wheelers (MTW) Europe Holdings will become a wholly-owned unit of Mahindra and Mahindra, the company said in a statement to the stock exchanges on Tuesday. The proposed buyout by Mahindra of its French partner comes two years after it acquired a 51% stake in MTW Europe. In October 2014, Mahindra said it would invest a total of €28 million (Rs217 crore) for the majority stake in the unit of the struggling French company.

Source: Mint September 27, 2016 18:45 UTC