Mahindra buys stake in Aussie aerospace firms

Mahindra buys stake in Aussie aerospace firms

Mumbai: Mahindra & Mahindra, India’s largest utility vehicles and tractor maker, said on Tuesday it had acquired majority stake in two Australian aerospace companies for Rs1.75 billion ($37.5 million).

The firms are Aerostaff Australia, an aircraft component maker, and Gippsland Aeronautics that makes aircrafts, the company said in a statement.

The acquisitions were made jointly with Kotak Private Equity, it added.

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