Mahindra hikes stake in South Korean unit SsangYong to 74.65%

Automobile manufacturer Mahindra & Mahindra (M&M) on Wednesday said it has increased stake in its South Korean arm SsangYong Motor to 74.65% with subscription of additional shares worth ₹316.5 crore. Prior to this, M&M held 72.46% stake in the company. The Anand Mahindra-led automaker had acquired 70% stake in SsangYong Motor for $463 million in 2011.