Mahindra & Mahindra Expands with SML Isuzu Acquisition

Mahindra & Mahindra plans to acquire a majority stake in SML Isuzu, taking over 58.96% for Rs 555 crore. This includes acquiring stakes from Sumitomo Corporation and Isuzu Motors Ltd. The acquisition aligns with Mahindra's strategy to boost growth in commercial vehicles, pending regulatory approval by 2025.

Mahindra & Mahindra has announced plans to acquire a 58.96% stake in SML Isuzu, a move valued at Rs 555 crore. This acquisition involves obtaining existing stakes from Sumitomo Corporation and Isuzu Motors Ltd.

The Mumbai-based automaker aims to capitalize on a promising growth trajectory in the commercial vehicle sector. An open offer to acquire an additional 26% in accordance with SEBI regulations forms part of the strategy.

Mahindra's CEO, Anish Shah, highlighted the acquisition's alignment with the company's growth vision. The transaction awaits regulatory nods from the Competition Commission of India and aims for completion by 2025.

(With inputs from agencies.)