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This is an archive article published on May 26, 2010

Mahindra to buy 55.2 pct stake in Reva

Mahindra & Mahindra would buy a 55.2 per cent stake in Reva Electric Car Company.

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Mahindra & Mahindra,India’s largest utility vehicles and tractor maker,said on Wednesday it would buy a 55.2 per cent stake in Reva Electric Car Company.

It will buy shares from the founders of Reva. Additionally,it will invest in fresh equity worth Rs 450 million.

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