TVS Motor Acquires Italian Engines Engineering for €5 Million

TVS Motor Company has revealed its plan to purchase Italian firm Engines Engineering S.p.A. for a little over 5 million euros, marking another bold step towards international expansion. This strategic acquisition aims to set up a global centre of excellence in Bologna, enhancing TVS's design and engineering capabilities.

In a comprehensive statement, TVS outlined its commitment to acquiring 100% of Engines Engineering's shares at a price of EUR 5.05 per share. Known for its innovation in high-performance motorcycle design and deep expertise in MotoGP racing, Engines Engineering will complement TVS's existing strengths.

TVS Chairman Sudarshan Venu highlighted that the acquisition would boost their ability to provide advanced mobility solutions globally. Additionally, this move will enhance Norton Motorcycles' legendary craftsmanship, supporting its goal of producing luxurious, cutting-edge motorcycles.

(With inputs from agencies.)