Mumbai

Aranda Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of investment company, Temasek Holdings, has today acquired 5.5 million equity shares of Indian automotive and farm equipment conglomerate, Mahindra & Mahindra Ltd (M&M) through market purchases.

M&M's Vice-Chairman & Managing Director, Mr. Anand Mahindra said: “I am pleased that Temasek has decided to invest in M&M and I look forward to a long-term and mutually beneficial association with them”.

Mr.Manish Kejriwal, Managing Director of Temasek Holdings Advisors India Pvt. Ltd., said: “We have made this investment in M&M because of our strong conviction in the management team. We are positive about the long term growth prospects of M&M on the back of strong domestic demand of its core products and its increasing penetration in international markets.

About M&M

The US $ 2.5 billion Mahindra Group, is a leading manufacturer of multi-utility vehicles and tractors in India with interests in key sectors like infrastructure, information technology and financial services.

About Temasek Holdings

Temasek Holdings is an Asia investment company headquartered in Singapore. It is committed to maximising long-term shareholder value as an active investor and shareholder of successful enterprises. Established in 1974, it manages a diversified global portfolio of S$90 billion, spanning Singapore, Asia and the OECD economies. Its investments are in a range of industries: telecommunications and media, financial services, property, transportation and logistics, energy and resources, infrastructure, engineering and technology, as well as pharmaceuticals and biosciences. Singapore-based Temasek-linked companies include well-known listed firms such as Singapore Airlines, SingTel, DBS Bank, SMRT Corporation and Neptune Orient Lines. Its recent investments include ICICI Bank, Matrix Laboratories and the Apollo Hospital group in India, Bank Danamon and Bank Internasional Indonesia in Indonesia, Quintiles Transnational Corp in the US, as well as Telekom Malaysia.

For further information contact:

M&M
Charudatta Deshpande
Tel: +912224975176 Fax: +912224900830
Email: deshpande.charudatta@mahindra.com

Temasek Holdings
Rachel Lin
Tel: +65 6828 6766
Email: rachellin@temasek.com.sg