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Mahindra & Mahindra forms JV with Chinese Tractor Maker

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Mahindra & Mahindra Ltd, one of India’s largest vehicle manufacturers, has bought a 51 per cent stake in the third largest Chinese tractor company (in terms of volume) Jiangsu Yueda Yangcheng Tractor Company. The value of the net assets transferred to the joint venture is said to be around US$50 million and Mahindra & Mahindra Ltd’s investment is expected to be around US$26 million..

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