With the Cabinet approving the sale of government's stake in the loss-making Scooters India Ltd, Rajkot-based three-wheeler maker Atul Auto today said it is keen to acquire the PSU.
The BSE-listed company's intention to acquire the state-owned company has assumed more significance with the Cabinet approval to sell the Government's entire 95.38% stake in the loss-making unit.
"We are keen to acquire Scooters India. I am happy with the Cabinet approval to sell the 95.38% stake in Scooters India," Atul Auto Director Vijay Kedia told PTI here.
"Now the process of selling the stake will start and we will be in the race," he said.
Scooters India is a listed company which posted loss of Rs 22 crore in FY10.
"We intend to invest in Scooters India's technology and expand capacity. We have similar products," Kedia said, adding that Atul Auto is the best candidate for Scooters India.
"Scooters India makes front-engine vehicles and we are are also into front-engine vehicles. So, we think it will be a a good combination," he said.
Earlier, Atul Auto had said it is interested in acquiring a "not-less-than 51% stake" in Scooters India.
