(Reuters) – India’s Eicher Motors Ltd (EICH.NS), maker of Royal Enfield classic motorbikes, is set to make a binding takeover bid for Italian motorcycle manufacturer Ducati for $1.8 billion-$2 billion, the Economic Times daily reported on Thursday.
Eicher is currently finalizing and structuring terms with global banks and consulting companies ahead of a bid deadline at the end of the month, the paper said, quoting unnamed sources. (bit.ly/2eHOiI5)
Sources told Reuters in June that U.S. motorcycle maker Harley-Davidson (HOG.N) and India’s Bajaj Auto Ltd (BAJA.NS) were among companies preparing bids for Ducati, which is being put up for sale by German carmaker Volkswagen (VOWG_p.DE).
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Clara Ferreira Marques