Mahindra and Mahindra (M&M) is close to buying out partner Hitachi Metals’ stake in Mahindra Hinoday, a manufacturer of components for automotive, electronics, telecom and other sectors. M&M holds 66% in the Pune-based JV while Hitachi Metals owns the remaining 34% stake. M&M bought the stake in 2005 from DG Piramal, in what was then DGP Hinoday.
Wednesday, May 21, 2008
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