Mahindra arm acquires UK-based BSA Company

Mahindra & Mahindra (M&M) today said it has acquired UK-based two-wheeler maker BSA Company for 34 lakh pounds (around Rs 28 crore).
Classic Legends Pvt Ltd, an arm of M&M, has acquired 1.2 lakh shares of BSA at a consideration of GBP 28.33 per share aggregating to around GBP 34 lakh, M&M said in a regulatory filing.
"This acquisition will enable CLPL acquire/obtain license of brand and utilise the same for selling, marketing, distributing motorcycles globally," it added.
The principal activity of BSA is licensing of brands related to motorcycles. Incorporated in the UK, the company has also presence in Japan, Singapore, Malaysia, USA, Mexico and Canada.

Last year, M&M had completed the acquisition of 51 per cent stake in Peugeot Motocycles (PMTC), a part of the euro 54 billion France-based PSA Group.