M&M to buy Turkish tractor, foundry
Mahindra & Mahindra (M&M) will be acquiring Erkunt Traktor Sanayii, the fourth-largest tractor manufacturer in Turkey, from Armagan family. M&M, the world's largest tractor manufacturer by volume and the fifthlargest in terms of revenue, has also agreed to acquire a foundry unit belonging to the same Turkish group. Both the deals, estimated at around Rs 800 crore, will help
M&M expand its farm equipment business in Turkey, a strategic market for farm equipment globally. Post-deal, M&M will retain Erkunt's brand.