mahindra & mahindra-gdr 144a (MAHDY) Key Developments
Mahindra & Mahindra Limited Inaugurates Automotive Manufacturing Facility in Zaheerabad, Telangana
Apr 23 15
The Automotive Division of Mahindra & Mahindra Ltd. announced the inauguration of its extended automotive manufacturing facility in Zaheerabad, Telangana. This facility will be used to manufacture Mahindra's new small commercial vehicle code named P601, which is scheduled to be launched in the first half of the current fiscal. The extended manufacturing facility for the automotive plant has been set-up at an investment of approximately INR 2,500 million and an installed capacity of 92,000 new vehicles per annum, which can be scaled up further to meet additional demand. This is in addition to the production capacity of 75,000 vehicles per annum from the already existing automotive manufacturing plant in Zaheerabad. The automotive plant in Zaheerabad will manufacture sub one tone commercial vehicles which include 4 wheel load and passenger vehicles, in addition to the UVs, LCVs and 3 Wbeelers, which are being currently manufactured. The expansion will provide additional direct and indirect employment, taking the total employment to 3,500 workers spread across the automotive and tractor plants.
Mahindra & Mahindra Plans to Increase Stake in Ssangyong
Apr 22 15
Mahindra & Mahindra Limited (BSE:500520) is looking to hike its stake to 85% in SsangYong Motor Co., Ltd. (KOSE:A003620) to 85% for which around INR 15 billion has been set aside. By end of 2015, Mahindra & Mahindra plans to increase stake in Ssangyong to 90-95%, thereby giving it almost 100% ownership.
M&M To Reportedly Make Buyout Offer For Pininfarina
Apr 20 15
Mahindra & Mahindra Limited (BSE:500520) (M&M) aims to present a formal offer for Pininfarina SpA (BIT:PINF) in time for the Pininfarina's shareholder meeting on April 29, 2015, two sources with knowledge of the matter said. The offer is expected to have the backing of Pininfarina's controlling shareholder PINCAR S.R.L., with 76% stake. However, the offer would still need to win the blessing of Pininfarina's creditor banks, the sources said. The sources said talks between the two sides were ongoing and could still fall apart.
Mahindra & Mahindra Denies Acquisition of Pininfarina
Apr 20 15
Mahindra & Mahindra Limited (BSE:500520) has replied to the clarification sought by the stock exchange related to the company being in talks to acquire Pininfarina SpA (BIT:PINF). Mahindra & Mahindra Ltd replied stating "The Company wishes to reiterate that there are no agreements which the Company has entered into, which require disclosure under Clause 36 of the Listing Agreement. As in the past, the Company would continue to inform stock exchanges about any price sensitive information before the same is made public.". According to two sources with knowledge of the matter, Mahindra & Mahindra is aiming to give a formal offer for buying stake in Pininfarina before the April 29, 2015 shareholders meeting of Pininfarina.
Mahindra In Final Stages Of Acquiring Pininfarina
Apr 17 15
Mahindra & Mahindra Limited (BSE:500520) is in the final stages of negotiations to buy Italian auto-design firm Pininfarina SpA (BIT:PINF). The company may reach an agreement to purchase the Pininfarina SpA that has designed some of the most iconic Ferrari sports cars as early as next week.