M&M-SML Isuzu Deal News: Mahindra & Mahindra (M&M) shares jumped on Monday after the auto giant announced the acquisition of a 43.96 per cent stake in SML Isuzu Ltd from Sumitomo Corporation for Rs 413.55 crore in cash. Sumitomo Corporation is a promoter of SML Isuzu Ltd.
The deal is subject to necessary approvals from stakeholders including shareholders and regulators.
M&M signed a share purchase agreement (SPA), dated April 26, with Sumitomo Corp and SML.
ALSO READ: Should you buy M&M shares for long term now?
M&M also announced an open offer for the acquisition of 26 per cent of SML’s equity share capital for cash consideration at Rs 1,554.6 per share from eligible public shareholders.
Catch key stock market updates here. For all other news, visit Zeebiz.com.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
