http://www.business-standard.com/ar...avy-s-farm-machinery-unit-115052100387_1.html M&M to buy stake in Mitsubishi Heavy's farm machinery unit To buy 33% stake in the unit for $25 million BS Reporter | Mumbai May 21, 2015 Last Updated at 12:06 IST Mahindra & Mahindra and Tokyo-based Mitsubishi Heavy Industries (MHI) today entered into a strategic partnership for agricultural machinery. Under the definitive agreement, M&M will invest $25 million (Rs 160 crore) for acquiring 33% voting stake in MHI subsidiary, Mitsubishi Agricultural Machinery Co (MAM) through fresh issue of common shares and Class A (non voting) shares of MAM. The deal is expected to close by October 1. The new funding will be used to increase MAM's capital base. MAM is a full range agri-machinery company, producing and selling tractors, combine harvesters, rice transplanters and other agri-machinery. The company generated revenues of about $408 million in 2014-15, according to a statement from M&M. Rajesh Jejurikar, president and chief executive (farm equipment and two-wheeler) M&M said, "This will enable strategic growth avenues for MAM through Mahindra USA, China and other international markets. It will also provide a platform for both the companies to leverage technology and product development synergies."