Mahindra & Mahindra Ltd, India’s largest sports utility vehicle maker, said on Saturday it had agreed to acquire a 13.5 percent stake in Spain’s auto components maker CIE Automotive SA for 94.24 million euros ($125.72 million).
The Indian company, part of the $16 billion Mahindra Group that has interests in sectors including information technology and auto components, will pay six euros per share for the CIE stake.
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