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Ideal motors to form a JV with Mahindra for a vehicle assembly plant

Mahindra and Mahindra (M&M), one of the largest the largest vehicle manufactures in India, said that discussions are underway to form a joint venture with Sri Lanka's Ideal Motors to assemble vehicles in Sri Lanka.

M & M will hold 35 per cent of the share capital in the joint venture(JV), with the remaining proposed to be held by Ideal or any of its affiliates, M&M said in a regulatory filing.

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