Divestment14 May 2026, 11:54 am
M&M's MOICML Sells Remaining 3.58% Stake in CIE Spain for EUR 126M
AI Summary
Mahindra & Mahindra Ltd's wholly-owned subsidiary, Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), has sold its remaining 3.58% stake in CIE Automotive S.A (CIE Spain) for approximately EUR 126 million. Following this transaction, MOICML's holding in CIE Automotive S.A. will become Nil, and CIE Spain will no longer be considered an associate of MOICML. The company has uploaded this information on its website and has requested the exchange to record the same as compliance with SEBI LODR Regulations.
Key Highlights
- MOICML sells remaining 3.58% stake in CIE Automotive S.A.
- Total consideration from the sale is approximately EUR 126 million.
- MOICML's holding in CIE Automotive S.A. becomes Nil.
- CIE Spain will no longer be an associate of MOICML.
- Transaction complies with SEBI LODR Regulations.