UPDATE 1-Eicher sells tractor, engine units for $71 mln

Newswire

(Adds comments, closing share price) BOMBAY, May 25 (Reuters) - Indian commercial vehicle maker Eicher Motors Ltd. said on Wednesday it had sold its tractor and engine businesses to Tractors and Farm Equipment Ltd. (TAFE) for 3.1 billion rupees ($71 million). The board of Eicher, which makes light commercial vehicles, motorbikes and auto components, also approved the acquisition of a U.S. engineering firm for $2.5 million. Following the news, Eicher's shares leapt 14.4 percent to a new ...

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