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Mahindra Systems and Automotive Technologies (MSAT),the auto ancillary arm of Mahindra and Mahindra (M&M),is close to acquiring a domestic and three European firms. The target companies are into forging, engineering services,and gearing business and have a turnover of $30-50 million each. The proposed acquisitions are in line with the companys plan to quadruple its sale in five years to $1 billion.According to media reports, Hemant Luthra, chief executive officer, MSA offered that the company is expecting to acquire all the four companies by the end of this year.He said all the companies have "good management, flexibility in approach, good technology,economy and are profitable."He said the valuation estimated for the companies would be on the basis of 5-10 percent of EBIDTA or 0.3 times the sales. |
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| Posted : 12/8/2005 |
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