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India Mahindra to buy 51 pct in China tractor co-TV

Mon Aug 18, 2008 3:03am EDT

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MUMBAI, Aug 18 (Reuters) - Mahindra & Mahindra Ltd (MAHM.BO), India's top utility vehicle maker, is likely to acquire 51 percent in Chinese tractor firm Kianbsu Yueda Yancheng, CNBC-TV18 news channel reported on Monday, citing unnamed sources.

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A spokesman for Mahindra, which is holding a news conference later on Monday, was not immediately available.

Mahindra, also the country's top tractor maker, now has a joint venture with Chinese tractor maker Jiangling Motors Co. The venture, Mahindra China Tractors, began operations in July 2005.

Mahindra last month bought the assets of motorbike and scooter maker Kinetic Motor (KNTM.BO). Sources have also said General Motors Corp GM.N is in talks with the Indian firm about selling its Hummer brand. (Reporting by Rina Chandran; Editing by Ranjit Gangadharan)

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