21/07/2017
PUNE:
Bajaj
Auto is close to forming an alliance but the name of the other party would be
announced once the formalities were completed, Chief Financial Officer Kevin
D'sa told analysts in Mumbai at a post-earnings call on Friday.
The comment, initially made at Bajaj Auto's annual
meeting late on Thursday, sparked speculation in local media that the Indian
motorbike manufacturer may be close to a partnership or deal with iconic
European motorcycle brand Ducati, which is being sold by Germany's Volkswagen.
Media Thursday reported that beside Italy's Benetton
family and US buyout fund Bain Capital, Indian firms Eicher Motors and Bajaj
Auto have also bid for Ducati.
When asked on the earnings call whether reports on
an alliance were true, D'sa said, "Whatever media statement has come out
is factually correct. There is an alliance around the corner. There is a
statement we had made in the AGM that the two partners have by and large agreed
on everything else."
"The lawyers are drafting the agreement.
Hopefully there will be a signature on that," he said, adding "What we're not reporting and commenting
on is the name of the other party."
When asked about the
product segment that the alliance would be in, D'sa said it would be in
motorcycles.
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