13
Feb
11:10
Mahindra sells controlling stake in special steels' maker
Mahindra & Mahindra has agreed to sell a 22% stake in Mahindra Sanyo Special Steel Private Limited to Sanyo Special Steel for INR 1.46 billion ($22.72 million).
Mahindra Sanyo Special Steel is now 29%-owned by Mahindra & Mahindra and has thus ceased to be a subsidiary of the Indian car manufacturer. Japan’s Sanyo Special Steel has increased its stake to 51% from 29%, thereby making Mahindra Sanyo a consolidated subsidiary of Sanyo. The other j…
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Anonymous
Very good overview of the weekly steel market.
Anonymous