Mahindra & Mahindra announced that its wholly owned subsidiary, Mahindra Engineering and Chemical Products (MECPL) has completed the sale of its entire 49% stake in Mahindra Tsubaki Conveyer Systems (MTC) to Tsubakimoto Bulk Systems Corp., for a consideration of Rs. 58.89 crore. With this transaction, MTC ceases to be associate company of MECPL.
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