Mahindra & Mahindra acquires stake in Turkey based Hisarlar
To grow farm equipment business in Turkey and Europe
Mahindra & Mahindra announced that pursuant to Board of Directors approval, the Company has signed a share subscription agreement for subscribing upto 75.1% of the share capital of Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi (Hisarlar), Turkey.Hisarlar is a leading player in industrial cabinets and agriculture machinery market with revenue of 208 million Turkish Lira for the FY ended 31 December 2015.
The transaction is expected to close by April 2017. The association will help in growing the farm equipment business in Turkey and Europe.
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First Published: Jan 20 2017 | 10:58 AM IST