IAB Report – Kinetic Engineering sells off entire stake in Mahindra Two Wheelers


Karthik H, A bit of a car freak and a bike nut, and a fan of trucks and technology too. Expect sharp stories that focus on those four fronts. As always, stay tuned to IndianAutosBlog.com for quick and unassuming updates from across the world.

Kinetic Engineering (KEL) has sold off its 20 percent stake in Mahindra Two Wheelers to Samena Capital. The stake is valued at around Rs 182 crore.

The proceeds of the sale, around Rs 109 crore, will go to Kinetic Engineering for certain committed payments including the repayment of Non-convertible Debentures and cost of financing. This amount, KEL has said, would be used for its own business purposes.

Mahindra Centuro N1 rear three quarters
Mahindra has managed to sell more than 1 lakh units of the Centuro.

Samena Capital is a private equity investor group focused on Asia and the Middle East that was formed in 2008.

In November 2008, the Kinetic Group had acquired the stake in Mahindra Two Wheelers when one of its group companies, the Kinetic Motor Company Limited, sold its two-wheeler business’ assets to the Mahindra Two-Wheelers for cash and a 20 percent equity stake. In 2012, when KMCL merged with KEL, the stake was transferred to the latter.

Vice chairperson of KEL, Sulajja Firodia Motwani, said that Kinetic would now focus on building its automotive systems business. She also added that the company had made good progress in building a business in engine and transmission systems in KEL, motor business in Kinetic Taigene and automotive electronics business in the Kinetic Ducati alliance.

The stake in Mahindra Two-Wheelers, she added, was being divested in order to meet the requirements of the Group’s automotive systems business in KEL.

Kinetic divests entire Mahindra Two Wheelers stake to Samena Capital – Press Release

[Can’t view the press release? Head to SlideShare]

Contribute to IAB
Submit Spyshots & get Bragging rights! Click Here
Custom Mods on your ride? Get it featured on IAB Submit

Mahindra Centuro News & Updates

Mahindra Centuro Disc Brake side left Nepal Auto Show 2015

Mahindra Centuro Disc Brake, Mahindra Centuro Rockstar – 2015 Nepal Auto Show Live

Mahindra Arro side at the 2014 Colombo Motor Show Sri Lanka

2014 Colombo Live – Mahindra showcases Arro, Centuro and Rodeo RZ

Mahindra Gusto review logo

Report – Mahindra Two Wheelers to acquire Peugeot’s scooter business

Lada Vesta Concept front three quarter at the Moscow Motor Show 2014

IAB Retrospect – Honda Mobilio, Mahindra Centuro Rockstar, 2015 Ford Ka, Skoda Fabia, Moscow Motor Show

Mahindra Centuro Rockstar

IAB Report – Mahindra Centuro Rockstar launched nationwide; Priced at INR 43,684

Mahindra Centuro Rockstar front

Report – Mahindra Centuro Rockstar launched in select cities, official announcement next week