M&A

M&A

TVS Motor to acquire Italy’s automotive design co. Engines Engineering for Rs.50-Cr

BSE Announcement   Economic Times   Engines Engineering S.p.A.  

Publicly listed TVS Motor Company is to acquire Italian automotive design and engineering firm Engines Engineering S.p.A. for over INR 50 crore. The acquisition involves 100% ownership of the company through the purchase of 1,000,000 equity shares at EUR 5.05 per share, totalling EUR 5.05 million (approximately INR 50 crore).TVS plans to establish a global centre of excellence for design and engineering in Bologna, intended to function as a concept-to-product innovation hub. The centre will also support Norton Motorcycles, a British brand owned by TVS Motor Company.