Mahindra & Mahindra to re-enter Algerian agri market

With acquisition of 5% stake in Eurl LD Azouaou, Algeria

Mahindra & Mahindra has signed an agreement on 17 March 2020 for subscribing to around 5% of the share capital of Eurl LD Azouaou, Algeria. This investment would enable the company to re-enter the Algerian agricultural market. The company will acquire the stake for US$1,50,000 (approximately Rs.1.1 crore) at a price per share of DZD 3,092,931.81 (approximately US$ 25,774 per share and Rs. 0.19 crore per share)

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