The racing assets of Eric Buell on an auction for USD 2.25 million
The assets remaining after the Erik Buell racing was put on auction for the amount of USD 2.25 million that is approximately INR 14.3 Cr.There were 37 potential buyers who were interested in this set, however the bid that won the products was made by Atlantic metals Group LLC on the 05th of August 2015.
The assets remaining after the Erik Buell racing was put on auction for the amount of USD 2.25 million that is approximately INR 14.3 Cr.
There were 37 potential buyers who were interested in this set, however the bid that won the products was made by Atlantic metals Group LLC on the 05th of August 2015.
Along with this initiative, the Atlantic Metals Grp. managed to obtain the entire EBR’s manufacturing as well as the intangible assets. During the previous month, Hero MotoCorp that already has that already owns a total of 49 percent of marginal chance in EBR introduced a portion of EBR’s assets for INR 17.86 Cr. In this agreement, the two-wheeler manufacturer who is based out in the capital acquired all of the engineering work it had constricted EBR to do on small-displacement Hero motorbikes.
During this trade agreement amid this auction the Hero MotoCorp’s obtain, EBR has escalated to more than INR 3.19 Cr.
Out of this a total of INR 1.2 Cr. would be used for the salary of the previous EBR staff. A perfect set-up for EBR would have been the one according to which any investor or manufacturer who would plan to get into the system and purchased these assets. Though, with the assets going to a dealer of rare metals and alloys, the company’s renewal and recovery now looks like a far-away vision.