Mahindra's Bold Move: Acquiring Majority Stake in SML Isuzu

Mahindra & Mahindra (M&M), a prominent name in India's automotive sector, has applied for approval from the Competition Commission of India (CCI) to acquire a controlling stake in the commercial vehicle maker SML Isuzu.

The announcement aligns with M&M's intention to secure a 58.96% stake in SML Isuzu, valued at Rs 555 crore. This strategic move was detailed in a notification to the CCI, highlighting that the acquisition is part of section 5(a)(i)(A) of the Competition Act, 2002.

M&M, recognized for its diverse operations spanning multiple sectors, emphasizes that this acquisition will not alter competitive dynamics in India. With plans to acquire stakes from Sumitomo Corporation and Isuzu Motors Ltd, the automaker will also extend an open offer under Sebi Takeover Regulations.

(With inputs from agencies.)