Hindustan Motors has executed an agreement with Peugeot S.A. on February 10, 2017 for the sale of the Ambassador brand (including the trademarks having application numbers 2803570, 2803571 and 2821821) and certain related rights (Ambassador Brand) by the company to Peugeot S.A for a consideration of Rs 80 crore.
The sale of the Ambassador Brand shall be effective upon fulfillment of the terms & conditions as prescribed in the said abovementioned agreement.
Hindustan Motors is engaged in the manufacture and sale of vehicles, spare parts of vehicles, steel products and components. The company is also engaged in trading of spare parts of vehicles.
