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Bloomberg
India’s TVS Motor is among prospective bidders considering making an offer for Norton Motorcycles of UK, 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. 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.
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.