Mahindra will remain a co-shareholder in Peugeot Motorcycles (PMTC).
Germany-based holding company, Mutares SE, is all set to acquire a majority stake in Peugeot Motorcycles. The company has made an offer to acquire 50% equity and a controlling stake of 80% in the Mahindra-owned French 2-wheeler brand.
According to media reports, the transaction is expected to be finalized in Q1 2023. Mahindra will remain a co-shareholder.
Peugeot Motorcycles manufactures two and three-wheeler scooters at its Mandeure factory in France. The company has around 3,000 touchpoints across three continents and generates revenues of approximately 140 million euros.
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