Mahindra Fresh Fruits Distribution Holding Company (Europe) B.V. (MFFD), a wholly-owned subsidiary of Mahindra Agri Solutions Limited (MASL), has sold its entire stake aggregating 83.09 per cent in OFD Holding BV (OFD), for EUR 5,100,000 (equivalent to Rs 42.20 crore).
OFD is a subsidiary of MFFD which in turn is a subsidiary of MASL and that of the company.
The agreement for sale was entered into on April 20, Mahindra & Mahindra said in a statement.
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The consolidated turnover of OFD for the year ended March 31, 2021, was Rs 567 crore and after the elimination of inter-company transactions with the Mahindra Group, OFD contributed Rs 567 crore or 0.76 per cent to the consolidated turnover of the company.
OFD is in the business of trading in fresh fruits in the continent of Europe and Asia.
Mahindra Agri Solutions Ltd (MASL) is a wholly-owned subsidiary of Mahindra & Mahindra.
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