As of its effort to divest from non-core A businesses, Mahindra & Mahindra (M&M) has binding offer from European private equity major Mutares SE & Co to acquire 50 percent of equity and a controlling stake of 80 percent in Peugeot Motocycles (PMTC).
The move will help M&M exit its European two-wheeler business - which it entered post acquiring 100 percent stake in Peugeot Motocycle from Groupe PSA in October 2019.
M&M has said the transaction is expected to be closed in the first quarter of 2023 after consultation of the works councils and is subject to approval of the antitrust authorities. Mahindra remains co-shareholder to support new product launches and the strong growth expected in the coming years.
This story is from the 15th November 2022 edition of Autocar Professional.
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This story is from the 15th November 2022 edition of Autocar Professional.
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