M&M to raise stake in Ssangyong unit to 73%
Feb 14 2013
Mahindra, India's biggest sports utility vehicle manufacturer, will subscribe to preferential shares issued by Ssangyong to facilitate new product development and strengthen the South Korean company's financials.
The payment is expected to be made on May 22.
Mahindra, the flagship company of the $15.9 billion Mahindra Group, bought a controlling stake in the carmaker in March 2011.