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M&M to divest Mahindra Holidays stake

The divestment would be in one or more tranches by June 2013.

FP Archives|Dec 20, 2014, 04:23:16 IST

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Mahindra & Mahindra, the country's largest utility vehicles maker, said on Thursday its board has approved divestment of up to 8.09 percent stake held in unit Mahindra Holidays & Resorts India Ltd.

The divestment would be in one or more tranches by June 2013, it said in a statement.

At present, Mahindra & Mahindra holds 83.09 percent stake in Mahindra Holidays.

Reuters

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