Mahindra & Mahindra (M&M), the country’s largest utility vehicle maker, is in talks to acquire Kinetic Motors, the Pune-based two-wheeler manufacturer. The move signals M&M’s interest in the two-wheeler segment, which has seen sharp growth and fierce competition in the past few years. The maker of Scorpio has been trying without success to get into the segment for the past few years.
People close to the development said both companies are in the final stage of due diligence and M&M is expected to pick up a majority stake in the company. Kinetic Motors has been valued at close to Rs 150 crore and the deal size is expected to be in the range of Rs 70-80 crore.
Read more in The Economic Times article.
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