Hero MotoCorp to buy 49.2 percent stake in Erik Buell

MUMBAI (Reuters) - Two-wheeler maker Hero MotoCorp said on Monday its wholly owned unit in the United States has agreed to buy a 49.2 percent stake in superbike company Erik Buell Racing for $25 million.

As part of the agreement, Hero MotoCorp's U.S. unit has invested $15 million in Erik Buell on June 28, and the remaining $10 million will be paid within nine months, the ompany said in a statement to the Bombay Stock Exchange.

(Reporting by Sumeet Chatterjee; Editing by Sunil Nair)