MAHINDRA & MAHINDRA AGREES TO ACQUIRE 43.3% STAKE IN PUNJAB TRACTORS LIMITED

Mumbai: Mahindra & Mahindra Ltd., the fourth largest tractor manufacturer in the world and the domestic leader for 23 consecutive years, announced today that it signed a deal to acquire 43.3% stake in Punjab Tractors Ltd. at a price of Rs. 360 per share.

M&M Ltd. along with its subsidiary Mahindra Holdings and Finance Ltd. agreed to acquire the stake from Actis Group and the investment companies of the Burman family, subject to the receipt of requisite approvals.