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Article: MAHINDRA ACQUIRES MAJORITY STAKE IN DGP HINODAY INDUSTRIES

Article from:
The Hindustan Times
Article date:
November 27, 2006
Copyright

Report from the India Press Release brought to you by the Hindustan Times

MUMBAI, India, Nov 27 -- The Bombay Stock Exchange of India made the following corporate announcement:

Mahindra & Mahindra Ltd., on November 24, 2006, has announced that it had entered into an agreement to acquire 66% equity stake in DGP Hinoday Industries Ltd. (Hinoday). The Company shall acquire the shares from the existing shareholders, DG Piramal Group and India Private Equity Fund Mauritius. Hitachi Metals holds the balance 34% equity stake.

Hinoday, based out of Pune, had commenced its operations in 1963. Hinoday is a market leader in its two business segments, Casting and Ferrites. The SG Iron Casting ...

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