Home » Private Sector » Mahindra to sell Turkish arm for ₹6 crore

Private Sector

Mahindra to sell Turkish arm for ₹6 crore

Mahindra to sell Turkish arm for ₹6 crore

Mahindra to sell Turkish arm for ₹6 crore

Mahindra to sell Turkish arm for ₹6 crore – Four years after purchased Turkish based equipments organization Hisarlar, Mahindra and Mahindra (M&M) — through its auxiliaries Mahindra Overseas Investment Company (Mauritius) and Turkish farm truck subsidiary Erkunt — has consented to sell its whole stake of 94.3% in Hisarlar, for around Rs 5.6 crore. M&M is, notwithstanding, holding Hisarlar’s agri equipments business through Erkunt.

As a part of the arrangement, Erkunt Traktor Sanayi, M&M’s Turkish work vehicle subsidiary, will secure the agri apparatus business from individual M&M auxiliary Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi (Hisarlar). Erkunt will gain not just the farming equipments business of Hisarlar — including select related resources, licensed innovation and brand use rights — it will likewise secure select lodge fabricating resources of Hisarlar.

Read more Private Sector News on India Frontline.