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M&M sells MFCS to TVS as part of capital allocation review


Mahindra and Mahindra on Thursday announced the sale of its vehicle service business, Mahindra First Choice to TVS Automobile Solutions Pvt Ltd (TASL), part of Chennai-based TVS Group, in a share swap deal. As part of the engagement, M&M will take 2.76% stake in TASL and will invest approximately Rs 35 crore, says VS Parthasarathy, Group CFO, M&M.





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