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Mahindra & Mahindra to buy Kinetic Motors

Mahindra & Mahindra in talks to buy Kinetic Motors

Apnaloan.com Research Bureau

14 May 2008

Mahindra & Mahindra (M&M) is in talks to acquire Kinetic Motors. The move signals M&M's interest in the two-wheeler segment, which has seen sharp growth and fierce competition in the past few years.

Both the companies are in the final stage of due diligence and M&M is expected to pick up a majority stake in the company. Kinetic Motors has been valued at close to Rs 150 crore and the deal size is expected to be in the range of Rs. 70-80 crore.

M&M is one of India's leading manufacturers of general-purpose utility vehicles, light commercial vehicles, tractors and SUVs. Kinetic Motors has presence in motorcycles, scooters and utility vehicles in the two-wheeler segment.

Experts believe that Kinetic Motors could be a good buy for M&M and the development is consistent with a sub-scale player exiting the market.