Following the development, shares of Eicher Motors rose 2.20 per cent to hit a high of Rs 32747.95 on BSE. NSEBSEEicher MotorsLoading data…
ADD TO PORTFOLIO
ADD TO WATCHLIST
SHARE YOUR OULOOK
ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES NEW DELHI: Shares of Eicher Motors rose over 2 per cent in Thursday’s trade amid reports the company was revving up to make a binding offer to acquire the iconic Italian superbikes Ducati for $1.8 billion-$2 billion.
If successful, the move will power Eicher Motors’ portfolio, brand equity, global reach and access to technology, multiple sources aware of the development told ET.
Following the development, shares of Eicher Motors rose 2.20 per cent to hit a high of Rs 32747.95 on BSE.
Eicher, believed to be the only Asians left in the fray in the ongoing auction for the Ducati disposal, is currently finalising financing and structuring terms with a clutch of global banks and consulting companies ahead of the deadline, that was scheduled for this month end, the sources told ET.
Since earlier this April, embattled German auto major Volkswagen Group (VW), whose Audi division controls Ducati – maker of the “naked muscle bikes” like Monster – has been working with boutique investment bank Evercore to sell the brand for around €1.5 billion, valuing it at 14-15 times its earnings before interest, taxes, depreciation and amortisation (EBITDA) of about €100 million, people aware of the matter said, to help it fund a strategic overhaul following its emissions scandal, ET reported.