Mahindra & Mahindra to hike stake in associate company Sampo Rosenlew

Mahindra & Mahindra has signed a share subscription agreement with Sampo Rosenlew Oy, Finland, an Associate of the Company (Sampo) and has agreed to subscribe to 822 Equity Shares and 192 Compulsorily Convertible Preference Shares. Pursuant to this, the voting rights of the Company in Sampo would increase from 35% to upto 49.04%.

Total acquisition cost is Euro 46,59,534 (equivalent to around Rs.37.74 crores at the foreign exchange rate of Rs.81 per Euro).

Sampo was founded in 1853 and is based out of Pori, Finland. Sampo is a manufacturer of combine harvesters and forest machinery with market presence in Europe, CIS and Algeria.

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