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Mahindra Holdings to sell its stake in two subsidiaries

Capital Market 

Mahindra & Mahindra announced that Mahindra Holdings, a wholly owned subsidiary of the Company, has today agreed to sell its entire stake aggregating 100% of the paid-up Equity Share Capital in Mahindra First Choice Services (MFCS) and its entire stake aggregating 100% of Optionally Convertible Redeemable Preference Shares in Auto Digitech (ADPL), wholly owned subsidiary of MFCS, to TVS Automobile Solutions (TASL).

Following the sale, MHL's shareholding in MFCS and ADPL would come down to Nil, and MFCS and ADPL would cease to be the subsidiaries of MHL and consequently of the Company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 26 2020. 18:25 IST