Mahindra & Mahindra has acquired 35 percent stake in Finland’s Sampo Rosenlew to up to 18 million euros (about Rs 135 crore) and forayed into the combine harvester business.
The deal is likely to close by June 30, 2016.
Mahindra & Mahindra (M&M) has said in a regulatory filing that “The acquisition of up to 35 percent stake would be for a consideration of not exceeding 18 million euros.”
Pawan Goenka, Executive Director of M&M has said that “We are now putting in place a strategy to build a full product line of farm equipment that goes beyond tractors and with this we will compete globally in both advanced and developing markets.”
