Hero MotoCorp Buying 49.2% In Erik Buell Racing For $25M

In a sweetheart deal over two years ago, the Munjals bought back the stake held by their Japanese partner Honda and simultaneously brought in Bain Capital and Singapore’s GIC as investors.
       Bain Capital-backed Hero MotoCorp Ltd, through its US-based wholly owned subsidiary HMCL (NA) Inc, is buying 49.2 per cent stake in American firm Erik Buell Racing Inc (EBR) for $25 million (Rs 150 crore), as per a stock market disclosure.
       EBR is a three-year-old firm started by Eric Buell, a former executive with the iconic motorcycle maker Harley-Davidson. Buell had earlier formed Buell Motorcycle Company, but eventually sold it to Harley-Davidson. After Harley-Davidson shut Buell Motorcycle a few years ago, Buell moved out to start up again. Harley-Davidson continues to hold the brand rights for Buell but EBR is an independent venture of its founder.
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