Date:31/12/2008 URL: http://www.thehindu.com/2008/12/31/stories/2008123155331400.htm

Business

M&M exits Swaraj Mazda

NEW DELHI: Mahindra & Mahindra has exited from Japanese commercial vehicle manufacturer Swaraj Mazda by selling its 14.04 per cent to Sumitomo Corporation of Japan for Rs. 40.03 crore. After the acquisition Sumitomo, which had 39.39 per cent stake in Swaraj Mazda, will gain control of the firm with 53.52 per cent stake.