Live
- 38 more Myanmarese immigrants deported to Myanmar from Manipur
- IPL 2024: Fifties from Nitish Reddy and Travis Head carry SRH to huge 201/3 against RR
- Repolling at one booth in Ajmer records 68.66 pc turnout
- J&K Police attach property of terror handler operating from Pak
- LS polls: MVA, VBA candidates in Maharashtra file nomination amid muscle-flexing
- TUC 2024: India’s campaign ends as both men's and women's teams go down in quarters
- NewsClick, others went to great lengths to paint CAA as discriminatory law targeting Muslims: Delhi Police charge sheet
- Illegal mining in Rajasthan: 4 FIRs lodged, 27 vehicles impounded
- Schools bomb threat: 125 calls received at police emergency number, says FIR
- In Gujarat, PM Modi's no-holds-barred attack on Cong, INDIA bloc over Pak's love for 'Shehzada' & 'vote jihad'
M&M set to buy stake in Peugeot Motocycles
Mahindra Two Wheelers Ltd (MTWL), a subsidiary of Mahindra & Mahindra group, has made an offer to buy 51 per cent stake in Peugeot Motocycles (PMTC) owned by France’s PSA Group.
Hyderabad: Mahindra Two Wheelers Ltd (MTWL), a subsidiary of Mahindra & Mahindra group, has made an offer to buy 51 per cent stake in Peugeot Motocycles (PMTC) owned by France’s PSA Group.
Under the binding offer made by the two wheeler arm of M&M, it would infuse 15 million euro into Peugeot Motocycles (PMTC) to finance projects implemented through strategic partnership. The proposed deal also involves further sale of shares by PSA, which would allow MTWL to take 51 per cent stake in PMTC.
The transaction between MTWL and PSA is subject to Works Council consultation as part of the employee dialogue process and anti-trust law, the M&M said in a statement.
"The coming together of Mahindra and Peugeot is a win-win for the two-wheeler businesses of both companies.
Mahindra would offer access to the Indian market, mass market product technology and competence in marketing while Peugeot brings premium range, a strong European footprint, and a globally recognised brand," said Pawan Goenka, Executive Director, M&M. This partnership would enable both MTWL and PMTC to speed up their international expansion by driving synergies and leveraging respective strengths of both parties, he added.
PMTC, also known as Peugeot Scooters, is a key player in urban mobility in Europe for 116 years, and is the oldest motorised two-wheeler manufacturer in the world. It offers one of the most comprehensive range of scooters and mopeds, from 50cc to 400cc, including the successful three-wheeled scooter - Metropolis - in the European market.
