Mahindra subsidiary buys British motorcycle firm BSA
Mahindra and Mahindra subsidiary Classic Legends bought all 120,000 shares of BSA at £28.33 per share, aggregating about £3,400,000, or Rs28 crore
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Mumbai: Mahindra and Mahindra Ltd subsidiary Classic Legends Pvt. Ltd has acquired BSA Co. Ltd, a British motorcycle firm, it said in a notification to exchanges on Friday.
The principal business of BSA is licensing of brands related to motorcycles. This acquisition would enable Classic Legends to acquire/obtain licence of brand and utilize the same for selling, marketing, distributing motorcycles globally.
Classic Legends acquired all 120,000 shares of BSA at £28.33 per share, aggregating approximately £3400,000, or Rs28 crore. With a presence in Japan, Canada, Mexico, Malaysia, Singapore, BSA had a turnover of £28,233 in fiscal 2015-16.