Mahindra partners with Mutares for transforming Peugeot Motocycles

• Mutares submits an irrevocable binding offer to acquire stake in Peugeot Motocycles to strengthen its Automotive & Mobility segment.
• Peugeot Motocycles is a manufacturer of two and three-wheeler scooters.

Mumbai/ Mandeure/ Munich, 10 November 2022 – Mahindra & Mahindra Ltd. (M&M) and Mutares SE & Co. KGaA (ISIN: DE000A2NB650) today announced that Mutares has submitted an irrevocable binding offer to acquire 50% of equity and a controlling stake of 80% in Peugeot Motocycles (PMTC).