M&M arm sells stake in Netherlands subsidiary for 422 mln rupees

By a Staff Reporter: Mahindra Fresh Fruits Distribution Holding Co (Europe) B.V. has sold its entire 83.1% stake in subsidiary OFD Holding B.V. for 422 mln rupees, Mahindra & Mahindra Ltd said in an exchange filing.

Mahindra Fresh Fruits Distribution Holding Co is a subsidiary of Mahindra & Mahindra.

The sale follows an agreement by Mahindra Fresh Fruits Distribution to offer its stake to OFD Holding as part of the repurchase of shares by OFD.

With this transaction, OFD Holding has now ceased to be a subsidiary of Mahindra Fresh Fruits Distribution Holding Co.

In 2020-21 (Apr-Mar), the consolidated turnover of OFD Holding was 5.67 bln rupees.

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Source : Eureka

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