India's Mahindra to enter two-wheeler business

Newswire

MUMBAI, July 30 (Reuters) - Mahindra & Mahindra , India's top utility vehicle and tractor maker, on Wednesday signalled its entry into the two-wheelers segment by agreeing to take an 80 percent stake in a new firm that would buy the assets of Kinetic Motor Co . Kinetic, which makes two-wheelers, will own 20 percent of the joint-venture firm, Mahindra said in a statement. Kinetic assets would be bought for 1.10 billion rupees ($26 million), it said. ($1=42.4 rupees) (Reporting by ...

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