Indian automotive giant Mahindra & Mahindra Ltd. has made a significant strategic decision to acquire a majority stake in SML Isuzu, a commercial vehicle manufacturer in India. The deal, valued at Rs 555 crore, will see Mahindra & Mahindra purchasing approximately 59% of SML Isuzu’s shares at Rs 650 per share. This acquisition will involve buying Sumitomo Corporation’s 44% stake and Isuzu Motors’ 15% stake in SML Isuzu. The transaction will also lead to a mandatory open offer to the public shareholders of SML Isuzu. This move is expected to strengthen Mahindra & Mahindra’s position in the commercial vehicle segment in India and enhance its product offerings. Stay tuned for more updates on this developing story.