Mahindra & Mahindra completed the acquisition of a 75% stale in Hisarlar for $18m.

Mahindra & Mahindra, a tractor maker, completed the acquisition of a 75% stale in Hisarlar Makina Sanayi Ve Ticaret, a manufacturer of farm machinery and equipment, from Darby Overseas Investments, a private equity firm, for $18m. "Mahindra is the world's No 1 tractor company by volume, with an on ground presence in India, USA, China and Japan, besides many other export markets. Our strategy going forward is to globalise aggressively and also expand our portfolio to include various new categories of farm machinery. This acquisition is an important milestone in our globalisation journey," Pawan Goenka, Mahindra & Mahindra Managing Director.