The Hindu Business Line : Aprilia to pick up 20 pc stake for Rs 100 crore

Confirming the development, Mr Pankaj Munjal, Managing Director, Hero Motors told Business Line, "Aprilia would pick up about 20 per cent equity in Hero Motors for a consideration of Rs 80 crore to Rs 100 crore. The details are still being finalised".

Aprilia and Hero Motors also announced a strategic partnership under which Hero Motors would produce co-branded moto-scooters in India.

Hero has said that approximately Rs 135 crore would be spent towards setting up an assembly line for the manufacturing of these products in India.

Mr Munjal, however, declined to confirm whether Aprilia would be introducing its motorcycles in India as well at a later stage, saying that the focus for the next 18 months or so would be only on the scooters.

However, a company official added that the feasibility study being conducted for motorcycles is only for higher-capacity bikes. Aprilia presently makes bikes in the 50 cc to 1000 cc range.

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