India based Mahindra Group acquires Turkey based farm equipment company-Hisarlar Makina Sanayi ve Ticaret Anonim Şirketi (Hisarlar) for around $19Mn.
The deal involves 75.1% acquisition by Mahindra in Hisarlar. The transaction is set to complete by first half of 2017.
About Mahindra Group
Mahindra Group is an Indian conglomerate holding company headquartered at Mahindra Towers in Mumbai, India, with operations in over 100 countries around the globe. The group has a presence in aerospace, agribusiness, aftermarket, automotive, components, construction equipment, defence, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail, and two wheelers.
It was incorporated in 1945 by the brothers J.C. Mahindra and K.C. Mahindra and Malik Ghulam Muhammad in Ludhiana, Punjab.