M&M vrooms on Italian acquisition buzz

DALAL STREET SPIKES

Mahindra & Mahindra gained 2.4 per cent to Rs 830.1 after the company said it has signed a binding agreement to acquire the business of G R Grafica Ricerca Design S.r.l, an Italian auto designing company.

G R Grafica Ricerca Design S.r.l (GRD), based in Turin, Italy, executes designing, body engineering and feasibility and styling work for leading auto original equipment manufacturers (OEMs) and designing companies based out of Europe and Asia. GRD had revenues of €6 million in 2007.