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Both BDO and Indian confirmed the deal. In a statement, TVS’s joint managing director Sudarshan Venu said: “This is a momentous time for us. The all-cash transaction, which was announced on Friday, will see the Indian firm take control of the 122-year-old Leicestershire brand for 16 million pounds ($19.98 million) through one of its overseas subsidiaries. One of India's leading two-wheeler manufacturers, TVS Motor Company has started proceedings to purchase UK's iconic motorcycle brand Norton Motorcycles. That could be relatively easy for the company that is estimated to be worth US$1.7 billion. In a £16million (roughly $20 million) cash deal, Norton Motorcycles became a TVS Motors brand. Actually a subsidiary of TVS Motors owns Norton. One of the most iconic British motorcycle brands of all time, Norton Motorcycles manufactures popular products like V4 RR, Dominator, Commando 961 Cafe Racer MK II and Commando 961 Sport MK II. TVS might be interested in Norton Motorcycles British brand went into administration TVS has been wanting to gain market share and make its presence felt in the premium two-wheeler segment. LONDON — India's third-largest motorbike manufacturer TVS Motor has sealed a $20 million deal to buy British brand Norton Motorcycles as part of a distress sale. The Castle Donington based company went into administration in January, with administrators BDO tasked to find the best way to recoup monies owed to creditors.

This move, if undertaken, would allow TVS to branch out to more premium models. According to Motorcycle News, the Indian giant’s offer was selected by BDO—the company overseeing the administration of Norton. Above: V4 superbike is the jewel in Norton’s crown . Buying Norton Motorcycles would open doors for TVS to enter premium mid-capacity motorcycles. Norton buy-out brings hope for deposit holders. However, the deal looks like good news for Norton’s creditors. News: 2020 Yamaha MT-25 / MT-03 officially announced.Price, Specs and Release date in USA and Japan. The often tumultuous story of Norton Motorcycles has entered a new chapter as Indian firm TVS Motor Company bought the stricken brand for £16m.

> Looking to buy or sell a motorcycle? TVS has paid £16 million for Norton – a figure that exceeds the amount owed to creditors as listed in BDO’s official reports. TVS has approached Norton’s administrators about a potential deal, according to the people, who asked not to be identified because the information is private. 2021 Ducati Multistrada V4 prototype spied for the first time.

Our talk with Shaun Hutchinson. Norton buy-out brings hope for deposit holders. Superbike has today reported that current Norton staff have been issued with TUPE information regarding the transfer from Norton to a newly incorporated company called Project 303 Bidco Limited.