Two- and three-wheeler maker TVS Motor Company Ltd on Friday announced the acquisition of British sporting motorcycle Norton for 16 million pounds (approx $20 mn) and some assets of Norton Motorcycles (UK) Ltd (in administration).
In a statement, TVS Motor said the acquisition was made through one of the company’s overseas subsidiaries.
“This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally,” Joint Managing Director Sudarshan Venu said, as per a statement.
“This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape,” he added.-IANS News
