Mahindra & Mahindra (M&M) has completed the merger of the trucks and buses vertical of its wholly-owned subsidiary Mahindra Trucks and Buses Ltd. (MTBL) with itself to derive greater synergies.
In August 2013, the trucks and buses vertical was first demerged from MTBL and then merged with M&M. A statement from M&M said the scheme of arrangement has become effective from March 30, 2014.
The Bombay High Court had approved the scheme of arrangement between M&M and MTBL on March 7, 2014.
As per the approved scheme, all assets and liabilities of MTBL have been transferred to M&M.
On the Bombay Stock Exchange, M&M shares rose by Rs.13.4 (1.39 per cent) to close trading at Rs.980.65 on Monday.
