CIE Automotive falls after Mahindra & Mahindra unit offloads 3.6% stake

About this update from Cie Automotive India Ltd

** Shares of CIE Automotive BME:CIE fall around 5.8% ** A unit of Indian automaker Mahindra & Mahindra NSE:M&M sold shares representing about 3.58% of CIE Automotive's capital at a discount via accelerated bookbuilding** Mahindra sold about 4.29 million shares of the Spain-based supplier of automotive components company's stake** Shares sold at 27.75 euros apiece, discounted from the stock's Wednesday closing price of 30 euros** CIEA on track for its worst day since November 2022, when it closed 6.0% lower

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