MUNICH: Mutares SE & Co. has successfully completed the acquisition of 50% equity and a controlling stake of 80% in Peugeot Motocycles (PMTC) from Mahindra & Mahindra (M&M).

M&M will remain a co-shareholder to support new product launches and the strong growth expected in the coming years.

Peugeot Motocycles designs and manufactures two-and three-wheelers, which are distributed through 3,000 points of sale by subsidiaries, importers, and dealers in France and internationally, across three continents. Headquartered in Mandeure, France, the company generates revenues of approximately EUR 140 million and has its own manufacturing facility in Mandeure, a joint venture with JNQQ (Jinan Qingqi Motorcycle Co., Ltd.) in China, as well as manufacturing partnerships with several large Asian players, including THACO in Vietnam.