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December 18, 2012
05:09 EDTNAVManhindra acquires Navistar's stake in India joint ventures for $33M
Mahindra & Mahindra and Navistar International announced that Mahindra intends to purchase Navistar Group's stake in Mahindra Navistar Automotives and Mahindra Navistar Engines. Mahindra would take complete ownership of operations and continue to sell MNEPL and MNAL products. The sale is expected to be completed in early 2013. The terms of the proposed transaction call for Mahindra to pay approximately $33M for Navistar Group's stake in both ventures. The agreement allows Navistar to continue sourcing components from India while Mahindra would continue to provide engineering services to Navistar. Navistar group would continue to support M&M through a license agreement and extend necessary support to MNAL and MNEPL for the purposes of business continuity.
News For NAV From The Last 14 Days
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March 24, 2015
15:37 EDTNAVGabelli raises stake in Navistar to 12.3% from 11.21%
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08:44 EDTNAVCommercial vehicles peak cycle concerns overdone, says RW Baird
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March 19, 2015
11:39 EDTNAVNavistar management to meet with Jefferies
Meeting to be held in Louisville, KY on March 25 hosted by Jefferies.
March 18, 2015
10:00 EDTNAVOn The Fly: Analyst Downgrade Summary
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08:35 EDTNAVNavistar downgraded to Underweight from Equal Weight at Morgan Stanley
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06:33 EDTNAVNavistar downgraded to Underweight from Equal Weight at Morgan Stanley

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