Mahindra & Mahindra Limited’s (M&M) bid to buy Romanian tractor maker Tractorul Brasov SA has failed due to the Romanian government rejecting debt guarantees as sought by M&M. M&M has acquired a number of tractor companies and auto-parts companies overseas in the past as it seeks to gain technology and tap bigger markets. The Mumbai-based company plans to spend Rs. 400 crores ($90 mn) over the next two years on expansion and developing new models. The company plans to make more acquisitions outside India this year.
Read Anand Mahindra’s comments in the article in Business Standard.
Dealcurry: Capital Markets, Investment Banking, Private Equity 