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Mahindra & Mahindra, India's largest utility vehicles and tractor maker, said on Friday it would buy out its partner Renault's 49 percent stake in its joint venture Mahindra Renault Pvt Ltd.

Under the terms of the agreement, Mahindra will be responsible for the management of the Logan sedan, which the joint venture makes and sells in India.

The Renault name and logo will continue to be used on the Logan till the end of calendar 2010, the company said in a statement.

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