GIBF E Magazine AUG-SEPT-2019 GIBF The Business Tycoons Magazine Aug-Sept | Page 14

M&M JOINT VENTURE WITH IDEAL MOTORS
M&M enter joint venture with Ideal Motors of Sri Lanka to set up car assembly plant.
In a bid to accelerate its global footprint, Mahindra & Mahindra, the country's leading utility vehicle maker on Saturday
inaugurated its first completely knocked down facility in Sri Lanka with its local joint venture partner Ideal Motors under
the subsidiary Mahindra Ideal Lanka.
The local automotive car assembly plant at Welipenna, near Colombo, Sri Lanka will assemble range of utility vehicles
and commercial vehicles for the company in order to arrest high import duties in Sri Lanka for completely built imports
which ranges 100% to 300% based on engine size or cubic capacity.
LONDON STOCK EXCHANGE TO BUY
EIKON-OWNER REFINITIV
Deal will increase LSEG's presence in US and allow
expansion into Asia.
The London Stock Exchange Group has agreed a $27bn
(£22bn) deal to buy Refinitiv in a move that will transform
it into a UK-headquartered, global rival to Michael
Bloomberg's financial news and data business.
The all-share deal will allow LSE to take control of
Refinitiv, whose Eikon terminals on trading
floors challenge those provided by
Bloomberg, from a consortium led by
Blackstone and including Thomson
Reuters, which owns the
Reuters news service.
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