M&M files for regulatory approval to acquire German auto forging firm
16 Nov 2006
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Mahindra & Mahindra Ltd is in talks with the promoters of German auto forging company Schoeneweiss & Co GmbH, to acquire a majority stake in it.
In anticipation of the deal going in its favour, M&M has also approached the German Federal Cartel authorities for approval. According to German laws, acquisitions have to be cleared to ensure compliance with the laws against restraints to competition.
The proposed acquisition would be subject to the finalisation of the transaction structure, fulfillment of condition precedents and other corporate regulatory approvals as may be required.
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