Mahindra and Mahindra acquired two Australian companies, Aerospace Australia and Gippsland Aeronautics, jointly with Kotak Private Equity for Rs. 175 crore. These acquisition will help Mahindra to cash in on a growing demand for economical air transport and to diversify its earnings. It can also give Mahindra to foray into global aerospace components and aviation markets. Anand Mahindra, Vice Chairman of the company said, "Our investment in component capability will address the need of both civil and defense markets".
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