M&M Unit Sells Stake in CIE Automotive for €119M
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Mahindra & Mahindra unit, MOICML, offloads 3.58% stake in CIE Automotive S.A for 119 million euros. Mahindra shares rise on BSE.
New Delhi, Dec 4 (PTI) Mahindra & Mahindra on Thursday said its subsidiary has sold 3.58 per cent stake in CIE Automotive S.A for around 119 million euros.
Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML), a wholly-owned subsidiary of the company, has sold part of its stake representing 3.58 per cent of CIE Automotive S.A outstanding shares, the Mumbai-based auto major said in a regulatory filing.
CIE Automotive SA is an associate of MOICML, it added.
Mahindra shares were trading 0.6 per cent up at Rs 3,672.20 apiece on the BSE.
Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML), a wholly-owned subsidiary of the company, has sold part of its stake representing 3.58 per cent of CIE Automotive S.A outstanding shares, the Mumbai-based auto major said in a regulatory filing.
CIE Automotive SA is an associate of MOICML, it added.
Mahindra shares were trading 0.6 per cent up at Rs 3,672.20 apiece on the BSE.
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