M&M Completes Acquisition Of 33% Stake In Mitsubishi Agri

By Super
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    New Delhi, Oct 1 (PTI) M&M today completed USD 25 million acquisition of 33 per cent stake in Mitsubishi Agricultural Machinery Co, which has been renamed as Mitsubishi Mahindra Agricultural Machinery Co.

    M&M Completes Acquisition Of 33% Stake In Mitsubishi Agri
     

    Mahindra & Mahindra, which had announced the acquisition in May this year, said in a statement that the two companies entered into a capital tie-up through a third party allocation of new shares.

    As a result of the capital infusion, Mitsubishi Heavy Industries now owns 66.7 per cent and M&M 33.3 per cent in Mitsubishi Agricultural Machinery (MAM).

    Starting from October 1, 2015 the name of the company (MAM) has been changed to Mitsubishi Mahindra Agricultural Machinery Co, it said, adding a new organisational structure has also been announced.

    Under the new structure, Katsumi Tottori, former President of MAM, has been appointed as CEO of the new entity, while Sudhir Jaiswal, ex-VP Commercial Business and Planning, International Operations of M&M, will be the CFO.

    It further said Takahiro Hisano, former VP and General Manager of Development and Design at MAM, will be the CTO and Senior Vice-President, it added.

    PTI

    Read more about: mahindra amp mahindra
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more