SECTOR
Mahindra & Mahindra’s arms to sell entire stake in Erkunt Foundry
Apr-10-2026

Mahindra & Mahindra’s wholly owned subsidiary -- Mahindra Overseas Investment Company (Mauritius) (MOICML), along with its wholly owned subsidiary, Erkunt Traktor Sanayii Anonim Sirketi (Erkunt Traktor) have entered into a Stock Purchase Agreement (SPA) with Hisarlar Makina Sanayi ve Ticaret A.S., Oguzhan Sahinkaya and Bunyamin Sarioglu (Buyers), whereby MOICML and Erkunt Traktor have agreed to sell their entire stake (aggregating to 99.04% of the shareholding) in Erkunt Sanayi Anonim Sirketi (Erkunt Foundry) to the Buyers.

The exit of the foundry business is in line with capital allocation framework of the company. Upon completion of the said transaction, Erkunt Foundry would cease to be the subsidiary of MOICML and in turn a step-down subsidiary of the company.

Mahindra & Mahindra is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

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