Eric Buell Racing was sold at an auction recently for a mere USD 2.25 million (approximately Rs 14 crore). In 2013, Hero MotoCorp had paid a lot more at Rs 159 crore to purchase a 49.2 percent stake in EBR. In addition, an extra Rs 17 crore was paid to purchase EBR’s consultancy arm. At the auction, official records showed that EBR had $20.8 million (Rs 132 crore) in assets and $20.4 million (Rs 130 crore) in liabilities.
EBR was sold to a company called Atlantic Metals Group LLC, and no other details of the company were revealed by the court. This deal includes all assets necessary to manufacture EBR bikes, like the tools, machinery and the inventory of remaining bikes and spare parts. Valuable intellectual property is also part of this deal. No official statement has been released by Eric Buell or the buyers.
Ved Janve
Vishal Venugopal
Dinshaw Magol
