Mahindra & Mahindra Signs Joint Venture Agreement with The Manufacturers Life Insurance

MT Newswires Live

11/13

Indian conglomerate Mahindra & Mahindra (NSE:M&M, BOM:500520) has entered into an agreement with The Manufacturers Life Insurance to form a joint venture company in India, according to a Thursday filing to the Indian stock exchanges.

The proposed 50:50 joint venture will provide life insurance and other related activities.

Both partners have made a total capital commitment of up to 36 billion Indian rupees, and each of the shareholders is expected to invest 12.5 billion rupees in the first five years.

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