Mahindra & Mahindra (M&M) is acquiring 90.47% stake in Germany-based forging company Schoneweiss. Schoneweiss is one of the top five axle beam manufacturers in the world, and specializes in suspension, power train and engine parts. The acquisition would be through its subsidiaries. However, financial details of the transaction were not disclosed.
Read The Calcutta Telegraph article.
M&M has been quite active on the acquisitions front. Last month, it announced the acquisition of casting and ferrites firm DGP Hinoday Industries. Then, in September, M&M announced that it would acquire a 67.9% stake in Jeco Holding AG, one of the top five forging companies in Germany, for an enterprise value of Rs. 830 crores (€140 mn). Last year, M&M bought Rajkot-based SAR Transmission. This was followed by the Amforge Chakan unit and Stokes Forging of the UK.
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