Mahindra & Mahindra to acquire stake in Carnot Technologies

For a consideration of Rs 6.06 crore

Mahindra & Mahindra has on 21 February 2018 signed a Share Subscription & Shareholders Agreement and a Share Purchase Agreement for acquisition of up to 1,296 Equity Shares and subscribing upto 6,074 Compulsory Convertible Cumulative Preference Shares which on an as-converted to Equity Share basis, would result in the Company holding in aggregate 22.9% of the Equity Share Capital of Carnot Technologies , on a fully diluted basis for a consideration of Rs 6.06 crore.

The acquisition is expected to be completed by 31 March 2018. This acquisition is expected to support company's business by developing information technology solutions for its products.

 

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