Mahindra & Mahindra’s step-down arm hikes stake in SGA to 100%

Mahindra & Mahindra’s (M&M) Holiday Club Resorts Oy, has increased its stake in Saimaa Gardens Arena Oy, Finland, (SGA), from 24% to 100%. Consequently, SGA has became wholly owned subsidiary of HCR and in turn of the company with effect from January 19, 2016. 

Holiday Club Resorts Oy (HCR) is step-down subsidiary of Mahindra Holidays & Resorts India (MHRIL) which in turn is subsidiary of M&M.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.