English
Indian commercial vehicle manufacturer Mahindra & Mahindra Ltd (M&M) is looking to buy some of the assets of Tractorul Brasov, according to The Economic Times, quoted by NewsIn.
Anjou Choudhri, president of M&M"s farm division: "The assets, including the factory, foundry, and land, were then auctioned off and bought by a local entity. They are now selling pieces of it and we have been approached as to whether we would be interested and we will look at it."
Mahindra had earlier bid for Tractorul when the Romanian government put it on block due to Tractorul"s debt liability of 180 million EUR, but the deal came unstuck when the European Union Competition Council objected to the debt write-off given by the local government as part of the deal, the paper said.
Mahindra is interested in Tractorul because it would allow the company to enter the EU market. M&M has recently teamed up with Uzel in Turkey and Iran Tractor Manufacturing Company in Iran, the paper said.
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