Mahindra & Mahindra Ltd (M&M) has signed a share purchase agreement with Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA) to sell its entire stake in Sampo Rosenlew Oy, its wholly owned subsidiary based in Finland.
Following completion of the transaction, Sampo Rosenlew will cease to be a subsidiary of M&M.
Strategic move
M&M said the divestment is in line with its focus on business opportunities that strengthen the company’s long-term position. It added that Sampo had contributed to the group by supporting the development of farm machinery technologies.
“By transitioning its ownership of Sampo to a new owner, the Company believes it will enable Sampo to pursue new pathways for innovation and growth building on its heritage and understanding of the Finnish market,” M&M said in a statement.
