Mahindra To Buy Entire Promoter Stake In SML Isuzu

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Mahindra & Mahindra is reportedly in talks to acquire the entire promoter stake in SML Isuzu. It is looking at a valuation of ₹1,400 per share to ₹1,500 per share. (Source: Link)​

M&M's board is likely to meet this week to evaluate the proposal and that the deal is likely to help M&M expand into the trucks and buses segment. At the end of the December quarter, promoters of SML Isuzu, Sumitomo Corporation, had a 43.96% stake in the company. CNBC-TV18 had reported back in June 2023 that JBM Auto is among the top contenders to acquire SML Isuzu as Sumitomo Corporation, SML Isuzu's Japanese promoters were looking to exit their India operations, sources had said back then.

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Mahindra & Mahindra has confirmed that it’ll acquire 58.96% stake in Isuzu for ₹555 crores. The acquisition will be made at a price of ₹650 per share. (Source: Link)

• Mahindra & Mahindra will also launch a mandatory open offer for upto 26% stake from public shareholders.
• Under the agreement, M&M will acquire the 43.96% stake held by Sumitomo Corporate and a 15% stake held by Isuzu Motors, a public shareholder in SML.

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