Mahindra & Mahindra hikes stake in SsangYong to 74.65 percent

M&M has subscribed to 1,18,90,606 equity shares of SYMC at a price of KRW 4,205 per equity share, which is equivalent to around Rs 316.5 crore.

Autocar Professional BureauBy Autocar Professional Bureau calendar 17 Jan 2019 Views icon5795 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Mahindra & Mahindra hikes stake in SsangYong to 74.65 percent

Mahindra & Mahindra has increased its stake in Korean carmaker SsangYong Motor Corporation to 74.65 percent from the existing 72.46 percent.

The increase in equity stake follows an offer of shares made by Ssangyong Motor Company, after which M&M agreed to subscribe to 1,18,90,606 equity shares of SYMC at a price of KRW 4,205 per equity share aggregating KRW 50 billion (equivalent to around Rs 316.5 crore). SYMC's consolidated total revenue for the financial year ended December 31, 2017, was Rs 20,901 crore.

Also read: No brand SsangYong for India, USA

Mahindra plans increased synergies with SsangYong for new engine, platforms, EVs

RELATED ARTICLES
Skoda begins sale of made-in-India CKD Kushaq in Vietnam

auther Autocar Professional Bureau calendar30 Jun 2025

Before production started, pre-series Kushaq vehicles covered over 330,000 kilometres on a variety of Vietnamese roads a...

Six Japanese companies join forces to expand use of recycled materials in new vehicles

auther Autocar Professional Bureau calendar30 Jun 2025

Denso, Toray Industries, Nomura Research Institute, Honda Motor, Matec Inc and Rever Corporation have set up the BlueReb...

BYD selects Voestalpine as steel supplier for its Hungarian plant

auther Autocar Professional Bureau calendar28 Jun 2025

The announcement of the Austrian steelmaker as a supplier demonstrates BYD’s strategic plan to source from high-quality,...