TVS Motor Company plans to buy Norton Motorcycles

  • TVS has approached Norton’s administrators about a potential deal.
TVS Apache RR 310
TVS Apache RR 310

TVS Motor Company is among prospective bidders considering making an offer for Norton Motorcycles of the U.K., which went into administration in January, people with knowledge of the matter said.

TVS has approached Norton’s administrators about a potential deal, according to the people, who asked not to be identified because the information is private. The British firm is being overseen by BDO LLP.

Also check these Bikes

Find more Bikes
Norton 500 (HT Auto photo)
UPCOMING
Engine Icon500.0 cc Mileage Icon25.0 kmpl
₹ 2.50 Lakhs
View Details
Norton Atlas 650 (HT Auto photo)
UPCOMING
Engine Icon650.0 cc Mileage Icon21.0 kmpl
₹ 16 Lakhs
View Details
Norton Dominator (HT Auto photo)
UPCOMING
Engine Icon961.0 cc Mileage Icon55.0 kmpl
₹ 23.70 Lakhs
View Details
Norton Commando 961 Sport (HT Auto photo)
UPCOMING
Engine Icon961.0 cc Mileage Icon10.0 kmpl
₹ 20.99 Lakhs
View Details
Norton Commando 961 Cafe Racer (HT Auto photo)
UPCOMING
Engine Icon961.0 cc Mileage Icon10.0 kmpl
₹ 20.99 Lakhs
View Details
Tvs Xl100 (HT Auto photo)
Engine Icon99.7 cc Mileage Icon55 kmpl
₹ 44,998 - 59,695
Compare
View Offers

Norton, which made its first motorcycle in the 1902, has changed hands multiple times over the years. Its most recent owner was entrepreneur Stuart Garner, who tried to revive the brand with modern versions of its Commando and Dominator models.

Garner is being investigated by the U.K.’s Pensions Regulator over actions taken when he was trustee of three pension programs that invested in Norton, the Guardian newspaper reported in March. Lawyers representing Garner couldn’t immediately be reached for comment by Bloomberg News.

Shares of TVS have fallen 40% in Mumbai trading this year, giving the company a market value of about $1.7 billion. A purchase of Norton would allow TVS to branch out into more premium models from its current line-up of two-wheelers used by commuters.

TVS sells the Ntorq scooter, Apache motorcycle and King three-wheeler auto rickshaw. Any deal will add to the $18.9 billion of acquisitions announced by Indian companies this year, up 55% from the same period in 2019, according to data compiled by Bloomberg.

Deliberations are ongoing, and TVS hasn’t made a final decision on whether to formally bid for Norton, the people said. Representatives for TVS and BDO declined to comment.


First Published Date: 08 Apr 2020, 19:50 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.