Indian conglomerate Mahindra & Mahindra Limited (NSE:M&M) has completed the purchase of Navistar International Corp (NYSE: NAV ) 's 49% stake in two Indian joint ventures. In December, the companies said the deal involved Mahindra paying approximately $33 million for Navistar Group's stake in both ventures. The two companies jointly announced this week that following regulatory approval, Mahindra now fully controls and operates Mahindra Navistar Automotives Ltd. (MNAL) and Mahindra Navistar Engines Pvt. Ltd. (MNEPL). Navistar will continue sourcing components from India while Mahindra will continue providing engineering services to Navistar. Navistar announced plans to exit the joint ventures in December as part of a larger turnaround strategy that focuses on its core North American operations.