Mahindra & Mahindra Acquires Major Stake in SML Isuzu Limited from Sumitomo Corp. and Isuzu Motors

Mahindra & Mahindra Ltd. has updated regarding the acquisition of 43.96% equity shares of SML Isuzu Limited from Sumitomo Corporation and 15.00% equity shares from Isuzu Motors Limited. This acquisition was carried out through Share Purchase Agreements dated 26 April 2025. The company also announced an open offer for acquisition of up to 26.00% of the equity share capital of SML from eligible public shareholders. The Competition Commission of India has approved the Proposed Acquisition and the Open Offer. Amendment agreements have been executed to amend certain provisions of the Share Purchase Agreements, which include appointing the Company’s nominee as a ‘key managerial personnel’ of the Target Company on the closing date, modifying the delivery schedule for procuring the supply of certain identified parts, and modifying the timelines for and manner of passing appropriate resolutions for effecting name change of the Target Company.