Mahindra to acquire stake in Kinetic Motor
Mahindra & Mahindra is planning to acquire a 76% stake in two wheeler maker Kinetic Motor Company for an estimated 120 crore rupees, for which it has signed up a term sheet and was doing due dilligence, sources have reported. The deal could frutify in the next two months. Kinetic Motor's Managing Director Sulajja Firodia declined to comment on it, saying this is completely speculative.
Kinetic Motor company is seeking fund infusions to the tune of Rs. 125 Crores and is looking at both financial institutions and staretegic investors, which would help the company to return to profit.
You need to log in to vote
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up