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Mahindra-Kotak PE buys stakes in Aussie Aerospace design firms

Private equity backed M&A is back in action. Mahindra & Mahindra, in partnership with Kotak Private Equity, has acquired majority stakes in Australia based aerospace companies Aerostaff Autralia and Gippsland Aeronautics. The total deal size stands at about Rs 175 crore.
The company will retain the existing management of both the aerospace companies. This is not the first time that Mahindra is strengthening itself into another space with the backing of a PE fund. In 2008, it acquired a 100% stake in Metalcastello S.p.A, a leading Italian independent gear manufacturer with the backing of ICICI Ventures Funds.

Wednesday 16 December, 2009 07:29 AM

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