BAL Eager for a Stake in Piaggio

NEW DELHI, India (30 March 2000)–The world’s second largest two-wheeler manufacturer, Bajaj Auto, is eager to acquire a 10-20% stake in Italian producer Piaggio. Last year Bajaj was engaged in negotiations with the Texas Pacific Group, former owners of Piaggio. According to industry sources, Piaggio’s current majority shareholder Duetsche Morgan Grenfell (DMG) has established contact