TVS Motor reaches deal to buy British brand Norton Motorcycles - sources

By Pamela Barbaglia LONDON (Reuters) - India's third-largest motorbike manufacturer TVS Motor has agreed a deal to buy British brand Norton Motorcycles as part of a distressed sale, sources told Reuters. The deal, which has been in the works for several months, will see TVS take full control of the 122-year-old Leicestershire motorbike brand for an undisclosed amount, the sources said.

Reuters April 18, 2020 00:05:56 IST
TVS Motor reaches deal to buy British brand Norton Motorcycles - sources

TVS Motor reaches deal to buy British brand Norton Motorcycles  sources

By Pamela Barbaglia

LONDON (Reuters) - India's third-largest motorbike manufacturer TVS Motor has agreed a deal to buy British brand Norton Motorcycles as part of a distressed sale, sources told Reuters.

The deal, which has been in the works for several months, will see TVS take full control of the 122-year-old Leicestershire motorbike brand for an undisclosed amount, the sources said.

Accountancy firm BDO stepped in as Norton's administrator in January after production was halted at its Donington Hall factory.

BDO led the discussions with TVS which is expected to provide enough investment to revive the famous brand and resume production, one of the sources said.

TVS Motor and Norton Motorcycles were not immediately available to comment.

(Reporting by Pamela Barbaglia in London, additional reporting by Aditi Shah; editing by David Evans)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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