Brief: Mahindra Says Edison Motors' Deal To Buy SsangYong Terminated

KG Mobility

07/04/2022 13:28

April 7 (Reuters) - Mahindra and Mahindra Ltd  MAHM.NS :
    * DEAL BETWEEN CONSORTIUM LED BY EDISON MOTORS AND SYMC TO
BUY
SYMC VIA PRIMARY EQUITY INVESTMENT IN SYMC HAS BEEN TERMINATED
    * EDISON CONSORTIUM HAS APPEALED AGAINST TERMINATION OF
AGREEMENT
    * DEAL TERMINATION DUE TO EDISON’S INABILITY TO DEPOSIT BID
AMOUNT
AS PER TERMS OF INVESTMENT AGREEMENT

Source text for Eikon:  ID:nBSEbLMvbF 
Further company coverage:  MAHM.NS 

 ((Reuters.Briefs@thomsonreuters.com;))