Sunday, May 30, 2010

MAHINDRA & MAHINDRA ACQUIRES MAJORITY STAKE IN REVA ELECTRIC VEHICLES CO.LTD.


Mahindra & Mahindra acquires 55.2% stake in Reva Electric Vehicles Co.Ltd and the new name of the company will be Mahindra REVA Electric vehicle Company Ltd. The Maini family promoters of REVA will hold 31% stake in the new company.

M&M will be infusing Rs.45 crores as fresh equity in the company . M&M has acquired shares from the promoters, the valuation of which was not mentioned either by REVA or M&M.Dr.Pawan Goenka,will be the Chairman of the New company.


No comments:

Post a Comment