Mahindra Ugine sells stake, property

Mahindra Ugine Steel has sold its entire 51 per cent stake in Mahindra Sanyo Special Steel Pvt Ltd, a subsidiary of the company, to Mahindra and Mahindra for Rs 214 crore. The company has also sold about 76 acres at Khopoli in Raigad district to Mahindra & Mahindra for Rs 126 crore. The valuation of both the deals was done by independent professional firm, the company said in a release on Saturday.