M&M pulls out of bid to supply trucks to US Postal dept in $6.3 bn deal

Firm to review operations of US arm, is in the midst of a restructuring exercise that is aimed at improving shareholders return on equity

M&M has started reviewing operations of Mahindra North America (MANA), its US subsidiary said company's top official. The move comes close to its decision to sell stake in Korean subsidiary SsangYong Motor and winding up Genzee, its electric two-wheeler business in the US. The company is in the midst of a restructuring exercise that is aimed at improving shareholders return on equity.

As part of the move to review MANA, M&M  has taken a call to pull out from the bid to manufacture small delivery trucks for the United States Postal Service that is worth $6.3 billion. The company has