The German investment fund Mutares announced Wednesday that it had taken control of the French manufacturer of two-wheeled vehicles Peugeot Motocycles, specifying that its current owner, the Indian group Mahindra, remained a coercive, according to a press release.
At the end of 2019, the Indian giant Mahindra had bought the 49% of Peugeot Motocycles that it did not yet own from the historic shareholder PSA, for an undisclosed amount.
A factory in Mandeure
The fund specifies that “M&M will continue to be a co-shareholder to support the launch of new products and the strong growth of activities expected in the coming years.”
Mutares recalls that Peugeot Motocycles designs and manufactures two and three-wheel vehicles, which are distributed in 3,000 points of sale by subsidiaries, distributors and dealers in France and internationally, on three continents.
Headquartered in Mandeure, France, the company “has an annual turnover of approximately 140 million euros and has its own factory in Mandeure (Doubs), a joint venture with JNQQ (Jinan Qingqi Motorcycle Co., Ltd.) in China, as well as as manufacturing partnerships with several major Asian players in the sector, including THACO in Vietnam.
Source: BFM TV
