Tuesday, December 30, 2008

M&M to sell 14% stake in Swaraj Mazda

Mahindra & Mahindra (M&M) is likely to exit from commercial vehicle maker Swaraj Mazda by selling its stake to Japan`s Sumitomo Corporation.

M&M is preparing to sell its 14.04% stake in Swaraj Mazda, it inherited after the acquisition of Punjab Tractors, according to sources close to the development.

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