Mahindra & Mahindra has announced that its wholly owned subsidiary, Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML), has sold a 3.58 per cent stake in CIE Automotive S.A for around 119 million euros.

In a regulatory filing, the Mumbai-based company stated that MOICML divested part of its shareholding in CIE Automotive S.A, an associate company. The transaction represents 3.58 per cent of CIE’s outstanding shares.

Following the announcement, Mahindra & Mahindra’s stock was trading 0.6 per cent higher at Rs 3,672.20 per share on the BSE.