Mahindra's subsidiary to acquire 100% stake in Peugeot Motorcycles

Mahindra Two Wheelers Europe, a Mahindra subsidiary, is set to seek full control of Peugeot Motorcycles (PMTC) for an undisclosed amount, the company said in a notification to the exchanges.

The move, it said, "reaffirms the commitment" of the group to future growth of the French company. The subsidiary currently holds 51 per cent in PMTC. It entered into the collaboration with PMTC, part of Groupe PSA in January 2015. Even after the buyout, the Peugeot brand will continue to be used under the trade licence agreement between PMTC and Peugeot. In addition, the Peugeot design teams will continue to assist