Indian auto major Mahindra and Mahindra has acquired the UK-based two-wheeler manufacturer BSA Company for 34 lakh Pounds (around ₹ 28 crore). Mahindra was contemplating between motorcycle brands Norton and BSA, but seems have to settled for the latter.
In a statement to the stock markets, Mahindra & Mahindra Ltd says, "CLPL, a subsidiary of the Company, has on October 21, 2016 acquired 100% of the share capital of BSA Company Limited." Classic Legends Pvt Ltd. (CLPL) is an arm of the Indian brand, and purchased all 1.2 lakh shares of BSA at a consideration of 28.33 Pounds per share.
Mahindra further added that this acquisition will enable Classic Legends to acquire or obtain license of the BSA brand and utilise the same for selling, marketing and distributing motorcycles globally. The principal activity of BSA is licensing of brands related to motorcycles. Incorporated in the UK, the company has also presence in Japan, Singapore, Malaysia, USA, Mexico and Canada.
Article source : www.auto.ndtv.com