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New Delhi, Dec 22: Leading utility vehicle manufacturer Mahindra&Mahindra (M&M) will acquire over 90 per cent stake in Germany-based forging company, Schoneweiss&Co GmbH.

M&M through its subsidiaries has agreed to acquire 90.47 per cent stake in Schoneweiss, a leading company in the forgings sector in Germany, the company informed the Bombay Stock Exchange today.

The company, however, did not disclose any financial details of the said acquisition.

Schoneweiss is one of the top five axle beam manufacturers in the world and specialises in suspension, power train and engine parts.

UNI