Mahindra and Mahindra has purchased a motorcycle company, like everyone was anticipating. It isn't MV Augusta - it is Kinetic Motor Corporation that M&M has purchased a stake in.
The acquisition will be done through a new company to be formed. The consideration for the acquisition is a sum of Rs 110 crores plus 20 percent stake to KMCL in the new company. The deal will enable Mahindra to design and market a range of scooters, value engineered motorcycles and high-end motorcycles for the Indian and global markets. Scooters will form M&M's entry point into the Indian market and will be an important part of the company's overall two-wheeler product portfolio. Mr. Anoop Mathur, President Designate, Two-Wheeler Sector, will head this new venture.
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