M&M to acquire 90% stake in Germany-based firm

Mahindra & Mahindra has agreed to acquire 90.47 per cent stake in Schoneweiss, a leading company in the forging sector in Germany.

Leading utility vehicle manufacturer Mahindra & Mahindra will acquire 90 per cent stake in Germany-based forging company, Schoneweiss & Co GmbH.

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Mahindra & Mahindra, through its subsidiaries, has agreed to acquire 90.47 per cent stake in Schoneweiss, a leading company in the forging sector in Germany, M&M informed the Bombay Stock Exchange.

The company, however, did not disclose any financial details of the said acquisition.

Schoneweiss is one of the top five axle beam manufacturers in the world and specialises in suspension, power train and engine parts.