Mahindra & Mahindra (M&M), India’s largest tractor and utility vehicle maker, is believed to be looking at acquiring a gearbox company in Italy in a deal valued between Rs 350-400 crore, people familiar with the situation said.
Talks with an investor in the Italian company who wants to exit are in an advanced stage, they added. The company that is being planned for acquisition is said to be more than 50 years old. It manufactures products such as fully assembled transmission shift rails.
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