Sona Koyo Steering Systems Limited (BSE:520057) acquired an additional 37.5% stake in Mahindra Sona Limited from Mahindra & Mahindra Limited (NSEI:M&M) for INR 1.2 billion in December 2016. The transaction was funded by loan from Avendus Finance. Khaitan & Co. acted as legal advisor for Mahindra Sona Limited. ICICI Securities Limited acted as the financial advisor to Mahindra & Mahindra Limited.

Sona Koyo Steering Systems Limited (BSE:520057) completed the acquisition of an additional 37.5% stake in Mahindra Sona Limited from Mahindra & Mahindra Limited (NSEI:M&M) on December 2016.