MUMBAI (Reuters) - Mahindra & Mahindra Ltd., India’s top tractor maker, said on Monday it would take a 51 percent stake in a joint venture with a Chinese firm and the venture would acquire the latter’s tractor operations for $50 million.

Mahindra’s contribution to the joint venture with China’s Jiangsu Yueda Yancheng Tractor Manufacturing Co would be $26 million, it said in a statement.
Mahindra, also India’s top utility vehicle maker, already makes tractors in China through Mahindra China Tractor Co. Ltd.