Mahindra subsidiary buys British motorcycle firm BSA1 min read . Updated: 21 Oct 2016, 10:51 PM IST
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
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.