TVS Motor acquires British company Norton motorcycles for 16 million pounds
17-April-2020
Two- and three-wheeler maker TVS Motor Company Ltd on Friday announced the acquisition of British sporting motorcycle Norton for 16 million pounds (approx $20 mn) and some assets of Norton Motorcycles (UK) Ltd (in administration).
In a statement, TVS Motor said the acquisition was made through one of the company's overseas subsidiaries.
"This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally," Joint Managing Director Sudarshan Venu said, as per a statement.
"This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape," he added.-IANS
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
IIM Grad and First-Generation Entrepreneur Anish Popli's ProcMart Secures Rs 250 Crore in Series B Funding
First Indian Space Tourist Talks Dreams and Inspiration Before Blue Origin Flight
Former MLA Rathod Bapu Rao Switches from BJP to Congress in Telangana
Zerodha Co-Founder Nikhil Kamath Launches 'WTFund' to Support Young Entrepreneurs