M&M completes buyout of Navistar stake in JVs

India Infoline News Service | Mumbai |


Mahindra & Mahindra Ltd has reportedly completed the buyout of Navistar Group's stake in the two joint ventures, Mahindra Navistar Automotives Ltd (MNAL) and Mahindra Navistar Engines Pvt Ltd (MNEPL).

Pawan Goenka,M&M president - automotive and farm equipment was quoted as saying,"Mahindra remains committed to growing its presence in the Indian commercial vehicle industry with Mahindra's truck and engine businesses continuing to play a critical role in helping us achieve this goal."

M&M has bought the remaining 49-per cent stake in the joint venture with US-based Navistar International Corp, reports added.

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