MTWL infuses Euro 15 million into PMTC
Mahindra & Mahindra announced that Mahindra Two Wheelers (MTWL) and Peugeot Motocycles (PMTC) have completed necessary formalities for Mahindra Two Wheelers' 51% acquisition in PMTC.Under the terms of the agreement, MTWL has infused Euro 15 million into PMTC to finance projects implemented through the strategic partnership and has also bought shares held by PSA which would allow NTWL to take a total 51% stake in PMTC.
The new board of PMTC has been constituted and would include the following -
MTWL
Dr Pawan Goenka, V S Parthasarthy and Rajesh Jejurikar
PSA
Maxime Picat and Emmanuel Delay.
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