Saturday , November 23 2019
Home / BUSINESS / M&M’s arm enters into asset acquisition agreement with CAPL

M&M’s arm enters into asset acquisition agreement with CAPL

Mahindra & Mahindra’s (M&M’s) wholly owned subsidiary — Mahindra First Choice Services (MFC Services) has entered into an asset acquisition agreement with the official liquidator of Carnation Auto (India) (CAPL). As a result, MFC Services will acquire key assets of Carnation’s car-servicing business including the trademark ‘Carnation’, its website, software licenses and Carnation’s workshop network. It will also drive MFC Services strategic vision of organizing the unorganized Indian automotive aftermarket industry.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.