M&M says sells 51 pc in auto parts JV

Newswire

BOMBAY, July 23 (Reuters) - India's largest utility vehicle maker Mahindra & Mahindra said on Tuesday it had sold its stake in an automotive components joint venture to its partner, a subsidiary of Britain's GKN plc . Mahindra & Mahindra said in a statement it had sold its 51 percent holding to GKN Sinter Metals Holdings Limited for 650 million rupees ($13.35 million). The joint venture, Mahindra Sintered Products Limited, was established more than three decades ago. It makes ...

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