To acquire 33% voting stake in Mitsubishi Agricultural Machinery Co.
Mahindra & Mahindra announced that it has entered into strategic partnership with Mitsubishi Heavy Industries in the agriculture machinery field.Mahindra will invest JPY 3 billion (USD 25 million) for acquiring 33% voting stake in Mitsubishi Heavy Industries' subsidiary, Mitsubishi Agricultural Machinery Co. (MAM) through fresh issue of common shares and Class A (non-voting) shares of MAM.
The deal is expected to close by 01 October 2015, with the new funding to be used to increase MAM's capital base.
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