The Economic Times

Mahindra to sell majority stake in aerospace subsidiary to Brazil's Embraer for Rs 5,100 crore

Mahindra & Mahindra Ltd has entered into an agreement with Embraer SA for selling a 51% stake in Novavaayu Aerospace Ltd. The total consideration for this stake acquisition amounts to approximately Rs 5,100 crore. Following this acquisition, Novavaayu Aerospace will no longer be a wholly owned subsidiary of Mahindra. The transaction is expected to be completed on or before December 1, 2026.