Wednesday, February 7, 2007

M&M, Escorts vie for stake in Punjab Tractors; Actis, Burmans to sell out

Mahindra and Mahindra (M&M) has put in a non-binding bid for acquiring stake in Punjab Tractors. The Burman family, which holds a 14.5% stake in Punjab Tractors, is interested in selling its stake in the company. Private equity firm Actis which is another major stakeholder in Punjab Tractors has also put in its 29% stake in Punjab Tractors on the block. The Burmans, promoters of Dabur India, are reportedly interested in selling their stake to the buyer of Actis' stake in the company. Escorts also has shown interest in buying stake in Punjab Tractors, but has not put in a formal bid yet.

Read the Business Standard articles – 1 2.
Related Post: M&M, TAFE eye Actis’ 29% in Punjab Tractors

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