Mahindra & Mahindra Revises Erkunt Divestment Terms

Key Transaction Details

Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), a wholly owned subsidiary of Mahindra & Mahindra, along with its wholly owned subsidiary Erkunt Traktör Sanayii Anonim Şirketi, executed an Amended and Restated Stock Purchase Agreement with Hisarlar Makina Sanayi ve Ticaret A.Ş., Mr. Oguzhan Sahinkaya and Mr. Bunyamin Sarioglu (collectively, the "Buyer").

Financial Terms

• Total consideration remains unchanged at Turkish Lira 1,00,000 (approximately ₹2,13,000 at prevailing foreign exchange rates)
• Revised infusion amount: Turkish Lira 2.26 billion (approximately ₹471 crore) to be infused by MOICML for extinguishment of external debt and business funding until transaction closing
• Additional buyer infusion: USD 10 million (approximately ₹95 crore) as part of revised terms

Timeline

The transaction closing is expected by 15th August 2026.

Additional Information

The intimation was received on 30th June 2026 at 10:47 p.m. (IST) and is being uploaded on the company's website at www.mahindra.com.

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