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As reported, Norton had been in financial trouble for a long time and eventually had to file for bankruptcy. TVS, or a company newly founded for the takeover, is now taking over the English cult brand for a price of around 18.4 million euros.
Norton Motorcycles will be part of the Indian TVS Motor Company.
Sudarshan Venu, CEO of TVS Motor Company: “This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally. This transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape.
Norton will continue to retain its distinctive identity with dedicated and specific business plans. TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand and we look forward to growing together globally in the years to come.”
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