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Mahindra & Mahindra acquires a majority stake in DGP Hinoday Industries
This is a discussion on Mahindra & Mahindra acquires a majority stake in DGP Hinoday Industries within the News and Views from the Business World forums, part of the News and views category; Indian automotive giants Mahindra & Mahindra have said that they are acquiring a majority stake in DGP Hinoday Industries Ltd. ...
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02-12-2006, 02:48 AM
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Rep Power: 3  |  Mahindra & Mahindra acquires a majority stake in DGP Hinoday Industries Indian automotive giants Mahindra & Mahindra have said that they are acquiring a majority stake in DGP Hinoday Industries Ltd. The company aims to acquire a 66% stake by buying shares from existing shareholders, DG Piramal Group and India Private Equity Fund Mauritius. Hitachi Metals would own the rest of the stake in the company. This deal would mark the entry of Mahindra in the sophisticated SG Iron casting space. And they would be using the expertise provided by Hinoday to become one of the leading casting players in the country. Mahindra added that they are seeing massive growth in the ferrites segment as well. They further said that the company would continue to be headed by its current management. |
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