India’s Mahindra to buy Germany’s Jeco Holding

MUMBAI - India’s top utility-vehicle maker, Mahindra & Mahindra Ltd. (M & M), said on Thursday it would buy 67.9 percent in Germany’s Jeco Holding AG for about 140 million euros.

By (Reuters)

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Published: Thu 28 Sep 2006, 6:48 PM

Last updated: Sat 4 Apr 2015, 1:24 PM

Jeco is one of the top five forging firms in Germany, with 2005 revenues of 180 million euros, M & M said in a statement.

”By buying Jeco, we are putting ourselves in a leadership position in the European forging industry,” Vice Chairman Anand Mahindra told reporters.

Shares in Mahindra ended 2 percent higher at 668 rupees in a Mumbai market that rose 0.2 percent.

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