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India conglomerate Mahindra open to reducing stakes in units

Monday, October 17, 2016 - 05:50
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The group is open to cutting its shareholdings in six listed entities to less than 51 per cent if the strategy they're pursuing calls for it, saidchief financial officer VS Parthasarathy.

Mumbai

MAHINDRA Group, the US$18 billion conglomerate with businesses from India's largest SUV (sport utility vehicle) maker to financial services and farm equipment, is prepared to pare stakes in its publicly traded units to facilitate fundraising by the companies.

The group is