Bob
12th July 2006, 00:22
Royal Enfield is to be made into a 100% subsidiary company by it’s owners, commercial vehicle manufacturer Eicher Motors, as part of ongoing restructuring of their business divisions.
"Our board has given us the approval to transfer the motorcycle business into a new company and subject to shareholders approval Royal Enfield will become a 100% subsidiary," Eicher Group Chairman S Sandilya told media.
Asked about the planned investments in the motorcycle business, he said "We have not discussed about any potential partners or how much stake we will dilute in the new subsidiary. It will depend of the future requirements."
"Our board has given us the approval to transfer the motorcycle business into a new company and subject to shareholders approval Royal Enfield will become a 100% subsidiary," Eicher Group Chairman S Sandilya told media.
Asked about the planned investments in the motorcycle business, he said "We have not discussed about any potential partners or how much stake we will dilute in the new subsidiary. It will depend of the future requirements."