December 23, 2009 - 10:06am

Mahindra & Mahindra (M&M) of India acquired a 75.1-percent stake each in Australia’s Aerostaff Australia (AA) and Gippsland Aeronautics (GA) last week. Mahindra Systech president and M&M board member Hemant Luthra told AIN, “These acquisitions have been made under subsidiary Mahindra Aerospace with a total commitment of approximately $37.4 million over the next five years.