M&M exits Italian JV

M&M exits Italian JV

28th Feb 2012 2:09 am

Indian giant exits 70 percent stake in the renowned Italian automobile design house.

 

Mahindra & Mahindra has sold its 70 percent stake in the Italian firm, Engines Engineering back to promoter Alberto Strazzari. Engines Engineering was largely responsible for the development of the four-stroke, 250cc MGP30 purpose built for Moto3 class racing and unveiled in November 2011. Reasons behind the end to the three and a half year old partnership remain unclear, as we are yet to receive a response from M&M in this regard. Engines Engineering is an established motorcycle name that caters to a wide list of clients, including the likes of Ducati, Honda and Yamaha amongst others.
 
M&M spokespersons have also denied any forthcoming plans to purchase the iconic Italian bike maker, Ducati, putting an end to speculation in recent days. Ducati owner, Andrea Bonomi had earlier stated, “Ducati is now a perfect company, but for further growth it requires the support of a world-class industrial partner and this year, we will work towards that partner.” Ducati’s valuation is pegged at around USD 1.32 billion.
Copyright (c) Autocar India. All rights reserved.


Tell us what you think.