| The Romanian government "could not get around some of the guarantees that we wanted," Mahindra said today in an interview in Davos, Switzerland, where he is attending the annual meeting of the World Economic Forum. "That was a deal-breaker." |
| Mahindra was seeking to buy state-owned Tractorul as it aims to surpass Fiat SpA's CNH Global NV, Deere & Co and Agco Corp to become the world's largest tractor maker. The Mumbai-based company plans to spend Rs 400 crore ($90 million) over the next two years on expansion and developing new models. |
| Mahindra, also India's biggest sport-utility vehicle maker, acquired a number of tractor companies and auto-parts companies overseas last year as it seeks to gain technology and tap bigger markets. |
| The Mumbai-based company would make more acquisitions outside India this year, including in China, where the carmaker purchased a tractor company, Mahindra said. |
| "We will keep looking," he said. "If any opportunities arise in China, we are very, very interested in expanding our presence in China. We believe it will eventually be a bigger market for tractors than India." |
| Shares of Mahindra rose 1.5 per cent to Rs 921.8 on the Bombay Stock Exchange on Thursday. Markets were closed on Friday for Republic Day. |
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