Mahindra & Mahindra Ltd.

Mahindra Two Wheelers (MTWL), part of the $16.5 billion Mahindra & Mahindra (M&M) has completed the necessary formalities for the acquisition of 51 per cent stake in Peugeot Motocycles (PMTC), France.

MTWL has infused Euro 15 million into PMTC to finance projects implemented through the partnership and has also bought shares held by PSA allowing it to take the 51 per cent stake. PMTC (a.k.a. Peugeot Scooters), a player in urban mobility in Europe for 116 years, is the oldest motorized two-wheeler manufacturer in the world. Its range covers scooters and mopeds from 50-400 cc, including the Metropolis - the three wheeled scooter in the European market. This project was announced on October 7, 2014.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.