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Mahindra Two Wheelers has recently acquired one of the international automobile manufacturers, i.e. Peugeot Motorcycles. The Peugeot Motorcycles comes under the subsidiary of Peugeot. It is a French based motorcycle manufacturer providing various types of commercial models, which have been offered all across the globe. The Mahindra Two Wheelers has made an announcement that they have gone through all the necessary formalities which are required to complete the acquisition procedure. The MTWL has acquired 51 percent of stakes in Peugeot Motorcycles.
Dr. Pawan Goenka, Executive Director at Mahindra & Mahindra Ltd. says about the completion of the acquisition procedure, "At Mahindra, we are committed to the long-term growth of Peugeot Motocycles and are confident that this relationship would be one of mutual respect, trust and learning. This partnership would enable both MTWL and PMTC to speed up their international expansion by driving synergies and leveraging respective strengths. It is our intention to work closely to enable a win-win for both partners. The acquisition, which resulted in the satisfaction of all regulatory, legal and financial conditions of the agreement, was completed smoothly by both parties within a very short span of time."
See Also:- Mahindra Two-Wheeler Product Portfolio in India
The France based Peugeot Motorcycles is offering a wide range of products, which includes scooters and mopeds. The products are fitted with a starting engine displacement of 50cc and goes up to 400cc. The firm's product portfolio also includes three-wheeled scooter, named as Metropolis 400. This is currently available in the European market only. Talking about the agreement of the MTWL and PMTC, the acquisition has costed 15 Billion Euros (Rs 114 Crore). Both the manufacturers have agreed to all the legal and financial terms and conditions, which comes under the agreement. Now, we all are waiting to witness the Peugeot Motorcycles products in the Indian Two-Wheeler market.
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