India’s largest tractor manufacturer, Mahindra and Mahindra Limited (M&M), sold 22% stake in Joint Venture (JV) Mahindra Sanyo Special Steel Private Limited (MSSSPL) to JV partner Sanyo Special Steel Company Limited (Sanyo) for Rs146.32cr. This was announced by M&M to stock exchanges on February 9, 2018.As per its FY17 Annual Report, M&M owns 51% stake in MSSSPL, while Sanyo, Japan and Mitsui and Company Limited, Japan, own 29% and 20% respectively. MSSSPL is a manufacturer of Carbon, Alloy & Tool Die Steels.
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