Markets

Eicher Motors jumps 2% as firm looks at $2 billion Ducati bid

Eicher Motors jumps 2% as firm looks at $2 billion Ducati bid

The Italy based company has chose to Auction the bike brand Ducati and the probability of owning seems to Eicher Motors.

After releasing the royal Enfield and its success, Eicher is all set to own the stylish bike company Ducati and make it a success. This time around, Eicher Motors has offered approx ₹11,500 Crores ($1.8 Billion) to buy Ducati, the Italian brand of sports bikes. Eicher motors have planned to bid from $1.8 billion to $2 billion. If the said move turns into Eicher's favour, it will further strengthen itself in its offerings, including portfolio and brand value.

Eicher Motors is finalising terms with advisers ahead of making a $1.8 billion-$2 billion bid by the deadline of the end of September, according to the report.

Ducati is owned by Germany based Volkswagon group's Audi division.

Since earlier this April, VW has been working with boutique investment bank Evercore to sell the brand.

Ducati Motor is an Italian company that designs and manufactures motorcycles.

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Other companies to have reportedly shown interest in bidding include Harley-Davidson and India's Bajaj Auto.

Even the private equity funds were keen, with the likes of Bain Capital and PAI Partners appearing genuinely interested on the fashionable motorcycle brand.

Though the company has made a decision to sell off its wing, it has started to face a lot of resistance from inside.

Ducati is staying under the Volkswagen Group umbrella - at least that's according to a report by Bloomberg, which cites ongoing opposition from the German company's powerful labour unions as the reason why the motorcycle company's "for sale" sign has been temporarily removed. However, VW group's strong performance in the past couple of months prompted the board to reconsider the idea on selling Ducati in August 2017.

Royal Enfield focuses on mid-capacity cruiser bikes and hence buying Ducati, which focuses on high-end sport bikes, would be a great addition for Eicher Motors to reach wider audience across the world. It is looking to dominate the mid-range motorbike segment and trying to penetrate into America after registering its presence in Australia and parts of Europe.

In 2016, Ducati sold 55,451 units, thereby clocking sales of 721 million euro.


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