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Hero Motocorp Ltd Incorporates Wholly Owned Subsidiary In U.S.A.; Picks Up 49.2% Stake In Erik Buell Racing, inc


Sunday, 30 Jun 2013 11:40pm EDT 

Hero Motocorp Ltd announced has incorporated a wholly owned subsidiary in U.S.A. by the name of HMCL (NA), Inc. (HMCL (NA)) inter alia for the purposes of investing in Erik Buell Racing, inc. (EBR). HMCL(NA) has agreed to invest USD25 million in EBR for a total stake of 49.2% in the share capital of EBR. The first tranche of USD15 million has been invested by HMCL (NA) on June 28, 2013. The second tranche of USD10 million is proposed to be invested within the next nine months. 

Company Quote

3117.1
1.15 +0.04%
23 Oct 2014