New Delhi, Aug. 2 -- Mahindra & Mahindra Ltd. (M&M) has successfully acquired a 58.96 per cent controlling stake in SML Isuzu Ltd. Following the takeover, the company has been renamed SML Mahindra Limited. The strategic acquisition, valued at Rs.555 crore, sees Mahindra taking over the shares which were previously held by Sumitomo Corporation and Isuzu Motors Ltd.

With Mahindra taking over the ownership of SML Isuzu, the company will witness changes in leadership and branding.

The company is set to be renamed as 'SML Mahindra Limited, a move that is currently awaiting necessary regulatory approvals.

Meanwhile, the company also announced key leadership appointments to steer its new operations:

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