Mahindra & Mahindra and Mutares SE has announced that Mutares will acquire a 50 per cent of equity and 80 per cent controlling stake in Peugeot Motorcycles (PMTC). Mahindra will remain a co-shareholder to support new product launches and strong growth in the coming years. The company said the closing of the transaction is expected in the first quarter of 2023 after consultation of the works councils, subject to approval of the antitrust authorities.
Speaking about the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, M&M, said, “We are delighted to welcome Mutares to Peugeot Motocycles. Our efforts are directed towards sustaining this French legacy brand that has been delighting customers for 124 years. With an established track-record of transforming companies across Europe, coupled with their expertise in the automotive business, Mutares is an ideal partner to strengthen and grow the brand with continuing support from M&M”.
Johannes Laumann, CIO of Mutares, states, “This is Mutares’ thirteenth acquisition in 2022. Peugeot Motocycles is an internationally recognized brand built on a rich history as the world’s oldest manufacturer of motorized two-wheelers. We are very proud to be associated with the brand and I strongly believe that we will be able to leverage the true potential of the company based on our vast experience in the industry and strong operational team and together with our partner M&M. Furthermore, Peugeot Motocycles acts as an OEM and we see a huge potential of strong synergies arising within our Automotive & Mobility segment.”
