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Mahindra in $300m SA deal?

2007-11-21 10:56
Mumbai - A unit of Indian carmaker Mahindra & Mahindra is in talks to buy South African car parts maker SP Metal Forgings for $200-$300 million, the Business Standard said on Wednesday.

A spokesperson for Mahindra did not immediately return a call seeking comment.

Components maker Mahindra Systems and Technologies, the unit of M&M, said recently it was looking to buy European engineering services firms for 20-30 million euros each.

A senior company official had said at the time it would not buy more forgings companies as it needed to consolidate that business after recent acquisitions.

Mahindra, India's top utility vehicle and tractor maker, is bidding for Ford's Jaguar and Land Rover brands.

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