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Piaggio eyes 74% stake in Scooters India - Views on News from Equitymaster
 
 
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  • Jan 14, 2000

    Piaggio eyes 74% stake in Scooters India

    Piaggio of Italy is mulling a 74% equity stake in Scooters India Ltd. (SIL), a public sector unit (PSU).

    The company was involved in a joint venture with LML, India's second largest scooter manufacturer. But the relationship soured and the companies separated.

    Mario Gilardini, Piaggio's resident manager commented, 'Scooters India has excellent skilled manpower that could prove useful.' This was reported by a leading financial newspaper.

    Earlier, as reported by a leading financial daily, Piaggio's plan to set up a 100% subsidiary hit the roadblock with Murasoli Maran, the commerce and industry minister, delaying clearance for the subsidiary. The argument advanced by the ministry was that if Piaggio wanted to buy a stake in Scooters India, why did it want to set up a 100% unit?

    Now that Piaggio is keen on picking up a stake in Scooters India, it remains to be seen whether the company will still want to go ahead with the 100% subsidiary, and if it does want to go ahead, whether its proposal will get the requisite sanction. This is essentially a policy issue, which needs to sorted out soon to remove any scope for confusion.

     

     

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