Mahindra to buy Germany’s Jeco Holding
India’s top utility-vehicle maker, Mahindra & Mahindra Ltd, said on Thursday it would buy 67.9 per cent in Germany’s Jeco Holding AG for about 140 million euros.
Jeco is one of the top five forging firms in Germany, with 2005 revenues of 180 million euros, M&M said in a statement.
"By buying Jeco, we are putting ourselves in a leadership position in the European forging industry," Vice-Chairman Anand Mahindra said.
Shares in Mahindra ended 2 per cent higher at Rs 668 in a Mumbai market that rose 0.2 per cent.
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