Mahindra To Acquire Sampo Rosenlew Oy, Finland
Mahindra & Mahindra Limited has signed a Share Subscription Agreement with Sampo Rosenlew Oy, Finland, an Associate of the Company ("Sampo") and has agreed to subscribe to 822 Equity Shares and 192 Compulsorily Convertible Preference Shares. Pursuant to this, the voting rights of the Company in Sampo would increase from 35% to up to 49.04%.
Sampo Rosenlew Oy, Finland, is an Associate of the Company ('Sampo') and is a leading player in combine harvesters market.
Sampo is a European combine harvester company, well-known for mid-sized combine harvesters in the markets of Europe, Eurasian countries and North Africa and is also a joint venture partner for combine harvesters in Algeria.
Together with its existing strategy in the core markets, Sampo is developing a new range of combine harvesters for developing markets and for speciality crops. The Company and Sampo will jointly focus on the combine & speciality harvester business in Asia, Africa and Eurasian Economic Union countries and Latin America.
Sampo had a total revenue of Euro 52 million during the period October 2017 - September 2018.