Mahindra Acquires Majority Stake In Reva Electric

May 26th 2010 | Posted by admin

In a surprise announcement today Mahindra & Mahindra have declared that they have taken majority stake in Reva electric vehicle company. The new company will be called Mahindra Reva Electric Co Ltd.
Under the new agreement signed by both the companies today, M&M will own 55.2% equity in Mahindra Reva by a combination of equity purchase from promoters and [...]