Hero MotoCorp considers Ducati purchase
India-based Hero MotoCorp Ltd. is looking into buying Ducati Motor Holding SpA, Hero managing director Pawan Munjal told Bloomberg.com.
The company, which just recently entered a partnership with Erik Buell Racing, is considering many assets as it looks to expand overseas.
"Lots of people have been coming to us with Ducati -- not one banker but many bankers," Munjal told Bloomberg in a March 2 interview in New Delhi. "We're talking to a lot of people. Not just Ducati -- whoever comes to us, we talk to them."
Munjal said Hero has cash reserves of about $1 billion. Investindustrial SpA, the private-equity firm that owns Ducati, is looking to sell the OEM for about $1.3 billion.
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