Mahindra and Mahindra (M&M) on Monday announced that it has entered into a share purchase agreement with Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA) to sell its entire stake in Sampo Rosenlew Oy.
Consequent to completion of the aforesaid transaction, SAMPO would cease to be a wholly owned subsidiary of Mahindra and Mahindra Limited.
With a focus on new opportunities that garner long-term success for the company, M&M has planned this divestiture to enable SAMPO to pursue new pathways for innovation and growth building on its rich heritage and understanding of the Finnish market.
"Sampo has contributed meaningfully to M&M since it became part of the group. Some of the technologies developed by Sampo have been instrumental in building M&M’s farm machinery capabilities," the company said in a regulatory filing.
Sampo Rosenlew Oy was founded in 1853 to undertake manufacturing of high-quality Combine harvesters and Forestry machines. It has a manufacturing operations in Pori, Finland.
The world’s largest tractor company by volume, M&M brags of a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
Consequent to completion of the aforesaid transaction, SAMPO would cease to be a wholly owned subsidiary of Mahindra and Mahindra Limited.
With a focus on new opportunities that garner long-term success for the company, M&M has planned this divestiture to enable SAMPO to pursue new pathways for innovation and growth building on its rich heritage and understanding of the Finnish market.
"Sampo has contributed meaningfully to M&M since it became part of the group. Some of the technologies developed by Sampo have been instrumental in building M&M’s farm machinery capabilities," the company said in a regulatory filing.
Sampo Rosenlew Oy was founded in 1853 to undertake manufacturing of high-quality Combine harvesters and Forestry machines. It has a manufacturing operations in Pori, Finland.
The world’s largest tractor company by volume, M&M brags of a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It also has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
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