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Hero MotoCorp considers Ducati purchase
India-based Hero MotoCorp Ltd. is looking into buying Ducati Motor Holding SpA, Hero managing director Pawan Munjal told Bloomberg.com.
The company, which just recently entered a partnership with Erik Buell Racing, is considering many assets as it looks to expand overseas.
“Lots of people have been coming to us with Ducati — not one banker but many bankers,” Munjal told Bloomberg in a March 2 interview in New Delhi. “We’re talking to a lot of people. Not just Ducati — whoever comes to us, we talk to them.”
Munjal said Hero has cash reserves of about $1 billion. Investindustrial SpA, the private-equity firm that owns Ducati, is looking to sell the OEM for about $1.3 billion.
To read the full Bloomberg.com story, click here.
“Munjal said Hero has cash reserves of about $1 billion. Investindustrial SpA, the private-equity firm that owns Ducati, is looking to sell the OEM for about $1.3 million. ”
What?
Your article says ” Investindustrial SpA, the private-equity firm that owns Ducati, is looking to sell the OEM for about $1.3 million.” For that price, I would find a way of buying Ducati! LOL!!
If you click through to the article, you realize that PSB made an error… Only a factor of 1,000… 🙂
Maybe PSB is using the same math that Dealernews uses to estimate Indy traffic? 🙂
“Investindustrial is seeking to sell or list Ducati for as much as 1 billion euros ($1.3 billion), the Financial Times reported last month, citing Andrea Bonomi, chairman of the European buyout firm.”
Hi everyone,
I’m sorry I made the mistake about the sale price. It is $1.3 billion, as many of you have found. The mistake has been corrected.
Thank you,
Liz Hochstedler
Associate Editor