Mahindra and Mahindra (M&M) informed Mahindra First Choice Wheels (MFCWL), a board controlled subsidiary of Mahindra Holdings (MHL), which is, in turn a wholly owned subsidiary of Mahindra and Mahindra, signed a share purchase agreement for acquiring up to 100% of the paid up equity share capital of Fifth Gear Ventures (FGVL), for a consideration not exceeding Rs 30.45 crore to be discharged by MFCWL by way of cash and issue of shares of MFCWL, subject to customary closing adjustments.
Mahindra and Mahindra subsidiary to acquire up to 100% of Fifth Gear Ventures
Date posted: Thursday 23 January 2020