Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has agreed to sell 26,36,401 Equity Shares of Rs 10 each held by the company in Mahindra Sanyo Special Steel (MSSSPL), aggregating 22% of the paid-up Equity Share Capital of MSSSPL, to Sanyo Special Steel Co.(Sanyo), for a consideration of Rs 146.32 crore.

Following the sale, the company’s shareholding in MSSSPL would come down to 29% from 51% of its share capital and MSSSPL will cease to be a subsidiary of the company.