Live
- Two officials held for collecting money from trucks on NH
- Majhi bats for disaster-resistant infra
- Grand Celebration of Constitution Day at District Police Office
- Constitution Day and National Law Day Celebrated with Enthusiasm at Gadwal PG Center
- Constitution Day Celebrated in Aija: Leaders Highlight Ambedkar’s Vision and Fundamental Rights
- Gadwal BJP Celebrates 75th Anniversary of Indian Constitution with Floral Tributes to Dr. B.R. Ambedkar
- Seal of authenticity for JK crafts by WCC soon
- The online world isn’t always safe
- Markets end in red as weak global cues weigh
- MyVoice: Views of our readers 27th November 2024
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.
