CCI nod for Mahindra & Mahindra, Ford Motor joint venture
Updated : February 11, 2020 06:19 AM IST
In October last year, M&M said it would buy 51 per cent stake in Ardour Automotive Pvt Ltd for around Rs 657 crore.
CCI said it has approved "formation of JV between Mahindra & Mahindra and Ford Motor and transfer of automotive business of Ford India to the JV".
The remaining stake of 49 per cent in Ardour Automotive would be held by Ford Motor Co and/ or any of its affiliates.