The German PE firm acquired a stake in Mahindra-owned Peugeot Motorcycles. | Tech US News

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Mutares SE & Co, a German private equity firm, will acquire 80 percent controlling stake in Peugeot Motorcycles (PMTC), owned by Mahindra Two Wheeler Europe Holding, Mahindra said in a filing to the stock exchange on Thursday.

“Mutares has submitted an irrevocable binding offer to acquire 50 per cent equity and 80 per cent controlling stake in Peugeot Motocycles (PMTC),” it said. It said M&M is a co-shareholder to support new product launches and strong growth expected in the coming years.

Mutares is a Munich-based private equity holding company in various countries. It acquires medium-sized companies in special circumstances, based in Europe, that show significant potential for operational improvement and is resold after undergoing a repositioning and consolidation process.

The transaction is expected to close in the first quarter of 2023 after consultation with works councils and is subject to approval by antitrust authorities.

Peugeot Motorcycles is headquartered in Mandeur, France with revenues of approximately 140 million euros. Peugeot Motocycles manufactures two- and three-wheeled scooters distributed in France and internationally through subsidiaries, importers and dealers through 3,000 points of sale on three continents. The company has its own manufacturing facility in Mandeor, a joint venture with JNQQ (Jinan Chungqi Motorcycle Co., Ltd.) in China, as well as manufacturing partnerships with several major Asian players, including Thako in Vietnam.

Rajesh Jejurikar, Executive Director, Auto & Farm, said, “With its expertise in the automotive business, along with its track record of transforming companies across Europe, Mutares will continue to support M&M to strengthen and grow the brand. An ideal partner.” Sectors in Bayan, M&M.

“This will be Mutares’ thirteenth acquisition in 2022,” said Mutares Chief Investment Officer Lauman. “We are very proud to be associated with the brand and I strongly believe that we will be able to leverage the company’s true capabilities with our extensive industry experience and strong operational team and our partner M&M. Additionally, Peugeot Motor Cycles operates as an OEM and we see huge potential for strong synergies arising in our automotive and mobility segments.

Peugeot Motorcycles is headquartered in Mandeur, France with revenues of approximately 140 million euros. Peugeot Motorcycles manufactures two- and three-wheeled scooters that are distributed through 3,000 points of sale in France and internationally through subsidiaries, importers and dealers on three continents. The company has its own manufacturing facility in Mandeor, a joint venture with JNQQ (Jinan Chungqi Motorcycle Co., Ltd.) in China, as well as manufacturing partnerships with several major Asian players, including Thako in Vietnam.

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