TVS Motor Company, announced the acquisition of Britain’s iconic sporting motorcycle brand Norton in an all-cash deal.
The Chennai-based company will pay GBP 16 million (Rs 153.2 crore) by acquiring certain assets of Norton Motorcycles (United Kingdom) (in administration) through one of its overseas subsidiaries. This is the first-ever overseas acquisition by TVS Motor Company.
Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time and is one of the most emotive marques today.
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