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BAL Eager for a Stake in Piaggio

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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 […]

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 with a number of potential partners, including Bajaj. Bajaj, however, refused to comment n the issue. It is generally understood that the company is currently studying how a minority stake in Piaggio will impact both its alliance in India as well as throughout the world. Last year DMG acquired an 80% share in Piaggio from Texas Pacific. (SH)

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