Ssangyong shares soars on acquistion by M&M: report

India Infoline News Service | Mumbai |

M&M has signed an initial agreement to buy stake in Ssangyong

Mahindra & Mahindra Ltd. has signed an initial agreement to buy a majority stake in South Korea's Ssangyong Motor Co. to enhance its technological know-how and expand its product range in the sports-utility-vehicle segment. Mahindra, will conduct a due diligence of the South Korean company's business before finalizing a definitive agreement. Shares of Ssangyong Motor Co. soars 12.8% in Seoul trading.

BSE 1,310.75 9.95 (0.76%)
NSE 1,311.80 12.05 (0.93%)

***Note: This is a NSE Chart



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