Hero MotoCorp buys 49.2 pc in US-based EBR for $25 mn

India’s largest two-wheeler manufacturer Hero MotoCorp on Monday said it is acquiring 49.2 per cent equity in US-based motorcycle company Erik Buell Racing (EBR) for about Rs. 148 crore. This is the first equity investment in an overseas firm by Hero MotoCorp (HMC), which had signed a technology sharing deal with EBR last year. "This is the first time that HMC is buying a stake in a company outside India. This is the first step in globalisation of the HMC brand," Hero MotoCorp MD and CEO Pawan Munjal told reporters. "This equity partnership is a natural extension of our existing relationship with EBR. We will be working more closely with EBR now. We’ll not be working together...