Hero MotoCorp Ltd., India’s biggest motorcycle maker, is in talks with bankers about buying Ducati Motor Holding SpA as it seeks technology to enhance its bikes and expand its business globally.
“Lots of people have been coming to us with Ducati: Not one banker but many bankers,” Pawan Kant Munjal, the managing director of Hero MotoCorp, said today in an interview in New Delhi. “We’re talking to a lot of people. Not just Ducati, whoever comes to us, we talk to them.”
Hero, which in December 2010 decided to exit a 26-year partnership with Honda Motor Co. (7267), is looking to gain technology through partnerships and acquisitions after that licensing relationship ends in 2014. The company has cash reserves of about $1 billion, Munjal said....more