TOKYO -- Major Japanese trading house Sumitomo Corp. and compatriot Isuzu Motors have agreed to sell their entire stakes in Indian commercial-vehicle joint venture SML Isuzu to local automaker Mahindra & Mahindra within the year.
Business deals
Isuzu, Sumitomo to offload Indian truck unit SML to Mahindra
Sluggish sales in competitive commercial-vehicle market prompt $65m deal
Indian automaker Mahindra & Mahindra will buy the local joint venture between Sumitomo Corp. and Isuzu Motors. © Reuters
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