India, Oct. 31 -- The European arm of Mahindra Two Wheelers has bought the remaining 49 per cent shares in Peugeot Motocycles, meaning it now holds 100 per cent stake in the French two-wheeler company.
Mahindra Two Wheelers Europe has acquired 100 per cent ownership of the French two-wheeler maker Peugeot Motocycles (PMTC). The European subsidiary of the homegrown manufacturer had 51 per cent stake in PMTC - bought in 2015 - and it has now acquired the remaining 49 per cent stake, confirmed Mahindra Two Wheelers. In addition to this, Mahindra has announced that it will invest a further 15 million pounds (Rs 110 crore, approximately) in PMTC to work towards future growth in European markets, while also expanding its operations in new locati...