Mahindra In Talks To Buyout Peugeot’s Scooter Business

Mahindra & Mahindra Ltd, India's largest utility vehicle maker, is in an advanced stage of discussions to buyout PSA Peugeot Citroen's scooter business, as per a media report. The deal may be announced soon.

Mahindra said in a BSE notice, "The company wishes to clarify it examines/pursues various opportunities in different areas from time to time on a continuous basis; it is not practicable to comment upon every opportunity at every stage. It is not in a position to confirm or deny the veracity of the news, given its policy of not commenting on speculative news/reports emanating from such activity."

The company’s two-wheeler business, which it bought from Kinetic Motors, has failed to boom. This buyout move seems to be aimed at rejuvenate its business.