Mahindra Finance Deal: ‘We are in a position to make an acquisition’

Mahindro Finance has struck a $1.5 billion loan to finance Ford Motor Co’s acquisition of General Motors, and its plans to buy Fiat Chrysler Automobiles and Chrysler Group.

Ford will be in a “position to make a significant financial contribution” to Mahindru finance, Mahindre Chief Executive Officer Amitabh Kant said in a statement.

Mahindra, India’s biggest auto manufacturer, said in January it had secured financing from Mahindras subsidiary Ford Financial Group.

Ford will buy into the company’s global operations.

Mahondra, which is also the largest manufacturer of electric vehicles, had reported first-quarter earnings on Monday.

Ford had said it was considering selling its global operations to Mahdru for about $1 billion, or about $3.7 billion in 2017 dollars.

Ford Finance will be Mahindres financial backer of Ford Motor.

Ford has long been interested in expanding into the US and Asia.

Mahindran Finance is an entity of the Indian conglomerate Mahindrata Enterprises Ltd, which has a controlling stake in Ford.

Ford Finance and Mahindrap Finance are jointly run by Kant and Rajeev Prabhu, who heads Mahindram Financial Group, which oversees Mahindri Finance.