In its first overseas acquisition after parting ways with Honda, country’s largest two-wheeler maker Hero MotoCorp (HMC) on Monday said it has picked up 49.2 per cent stake in US-based high-end motorcycle maker Erik Buell Racing (EBR) for USD 25 million (about Rs. 148 crore). The development comes more than a year after the two companies had entered into design and technology sourcing pact as the Indian firm looks to strengthen presence in the global markets. “This is the first time that Hero has gone out of India to buy equity into a company. This is the first step of Hero in terms of financial investment (into a company) on the road towards globalisation of the Hero...
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