Ford Motor Co. and Indian industrial conglomerate Mahindra & Mahindra Ltd. dissolve a cross-holding agreement that has spanned nearly a decade. Under the agreement brokered on the Bombay Stock Exchange, Mahindra sells its 15.88% stake in Ford India, while Ford sheds its 5.16% share of the Indian conglomerate, which launched an automotive division in 1994. Ford’s sale of 6 million shares has netted the company Rp2.89 billion ($66 million), according to Reuters. News of the sale ...
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