Mahindra acquires UK motorcycle company BSA for Rs 28 crore

The company was acquired through its subsidiary Classic Legends Private Limited (CLPL).

Mahindra acquires UK motorcycle company BSA for Rs 28 crore
BSA Motorcycles is now acquired by Mahindra. Photo: BSA official website
By ZeeBiz WebTeam
Updated: Fri, Oct 21, 2016
04:46 pm
Mumbai , ZeeBiz WebDesk
RELATED NEWS
Did you buy Maruti Suzuki, Tata Motors, Mahindra and Mahindra? Hefty money lost! Buy now? Find out Did you buy Maruti Suzuki, Tata Motors, Mahindra and Mahindra? Hefty money lost! Buy now? Find out
2018 year end sale bonanza! Get up to Rs 1 lakh discount on Mahindra SUVs; check list, find your dream car 2018 year end sale bonanza! Get up to Rs 1 lakh discount on Mahindra SUVs; check list, find your dream car
Mahindra to increase price of 'Marazzo' from January Mahindra to increase price of 'Marazzo' from January
Mahindra & Mahindra group net rises 14% Rs 1778.7 cr despite fall in margins Mahindra & Mahindra group net rises 14% Rs 1778.7 cr despite fall in margins

Mahindra & Mahindra (M&M) on Friday announced that it had acquired British two-wheeler company BSA Company Ltd (BSA) for 3.4 million pounds (around Rs 28 crore). The company was acquired through its subsidiary Classic Legends Private Limited (CLPL).
 
“This has reference to our letter dated October 18, 2016, wherein we informed that M&M has subscribed to and has been allotted 60,00,000 equity shares of Rs 10 each of Classic Legends Private Ltd (CLPL), constituting 60% of its equity share capital. In furtherance to the above, we wish to inform you that CLPL, a subsidiary of the Company, has today acquired 100% of the share capital of BSA Company Ltd,” the company said in a statement issued to BSE.

 The acquisition of BSA will enable it to use the iconic motorcycles brand name to sell, market and distribute it globally.

CLPL has acquired 1,20,000 shares of BSA at a consideration of GBP 28.33 per share aggregating approximately GBP 3.4 million (around Rs 28 crore).