M&A

M&A

German PE firm Mutares acquires controlling stake in Peugeot Motorcycles from M & M

Business Line  

Munich-based private equity firm Mutares SE & Co KGaA has submitted an irrevocable binding offer to acquire 50% equity in Peugeot Motorcycles (PMTC) from Mahindra & Mahindra. The deal will give the German company an 80% controlling stake in Peugeot. M&M would remain a co-shareholder to support new product launches in the coming years. Peugeot Motocycles is headquartered in Mandeure, France generating revenues of approximately 140 million euros. It manufactures two and three-wheeler scooters distributed across 3,000 points of sale through subsidiaries, importers, and dealers in France and across three continents. Mahindra Two Wheelers Europe, a subsidiary of Mahindra & Mahindra, had acquired 100% stake in Peugeot Motocycles in 2019. Earlier in January 2015, Mahindra had acquired a 51% equity stake in PMTC.