TVS Motor jumps 7% after acquisition of Norton Motorcycles


Published On: Monday, April 20, 2020 | By:

TVS Motor jumps 7% after acquisition of Norton Motorcycles

Shares of TVS Motor Company (TVSL) gained as much as 7.16 per cent to Rs 323 per share on the BSE on Monday after the leading two-wheeler and three-wheeler manufacturer on Friday acquired Britain's Norton Motorcycles for GBP 16 million (Rs 153.12 crore). An overseas subsidiary of TVS Motor Company Ltd (TVS Motor) has signed an asset purchase agreement with Norton Motorcycles Holdings Ltd to acquire certain assets from Norton, including, the brand Norton and other associated brands. Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time.TVS Motor Company is one of the largest two-wheeler manufacturers in India. This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world and presents us with an immense opportunity to scale globally. This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers.

We will extend our full support for Norton to regain its full glory in the international motorcycle landscape," TVS Motor Company Joint Managing Director Sudarshan Venu said in a statement.

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