Bajaj Auto exec says alliance around the corner
The comment, initially made at Bajaj Auto`s annual meeting late on Thursday, sparked speculation in local media that the Indian motorbike manufacturer may be close to a partnership or deal with iconic European motorcycle brand Ducati, which is being sold by Germany`s Volkswagen. http://bit.ly/2gP63JB
Reuters on Thursday reported that beside Italy`s Benetton family and U.S. buyout fund Bain Capital, Indian firms Eicher Motors
When asked on the earnings call whether reports on an alliance were true, D`sa said, "Whatever media statement has come out is factually correct. There is an alliance around the corner. There is a statement we had made in the AGM that the two partners have by and large agreed on everything else."
"The lawyers are drafting the agreement. Hopefully there will be a signature on that," he said.
"What we`re not reporting and commenting on is the name of the other party."
When asked about the product segment that the alliance would be in, D`sa said it would be in motorcycles.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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