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| Exchange Received Time 13/12/2017 23:47:26 Exchange Disseminated Time 14/12/2017 01:06:40 Time Taken 01:19:14 | Mahindra Overseas Investment Company (Mauritius) Ltd, a wholly owned subsidiary of the Company ('MOICML') has on 13th December, 2017 executed a sale of 64,50,000 shares representing 5% of the Share Capital of CIE Automotive S.A., a company incorporated in Spain and quoted on the Madrid and Bilbao Stock Exchanges at an average gross price of Euro 23.50 per share, aggregating Euro 151.58 million.
The sale has been executed on the stock exchange. Following the sale, MOICML's shareholding in CIE Automotive S.A. would come down to 7.435% of its share capital. This transaction will facilitate diversification of Investor base of CIE Automotive S.A.
MOCIML would utilize the sale proceeds, inter alia, for part re-payment of MOICML's debt and/or for declaration of Dividend or for any other purpose, as may be decided by the Board of MOICML.
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