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Global manufacturer of two- and three-wheelers, TVS Motor Company has agreed to acquire Engines Engineering S.p.A. (EE), an Italian automotive design and engineering powerhouse, for Rs 52 crore, according to a stock market disclosure. 

The deal is part of its initiative to establish a global centre of excellence (CoE) in Bologna.

In a regulatory filing, the company said the acquisition has been carried out "at EUR 5.05 per share, amounting to a total consideration of EUR 50,50,000", subject to completion of agreed conditions.

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1,000,000 equity shares are to be acquired, representing 100 percent of the equity share capital of EE, as per the deal, the filing stated.

The CoE is designed as a concept-to-product innovation hub, seamlessly integrating Engines Engineering’s expertise with TVS Motor’s global R&D capabilities. By uniting diverse engineering teams and expanding access to global talent pools, the CoE will significantly enhance the company’s speed to market, product differentiation, and technological leadership.

"By combining the creativity and racing expertise of Engines Engineering with our engineering and design strengths, we are expanding our ability to deliver premium, connected, and electric vehicles that set new global benchmarks," TVS Motor Company chairman, Sudarshan Venu, said.

"This Centre of Excellence further augments Norton's capabilities, enabling it to advance its craft of exceptional high-performance motorcycles that not only honour its iconic legacy but also elevate its future ambitions," Venu added.

The CoE is designed as a concept-to-product innovation hub, seamlessly integrating Engines Engineering's expertise with TVS Motor's global R&D capabilities, the company said.

With this initiative, TVS Motor will be able to reduce product development cycles,

enhance design flexibility, and expand its premium portfolio, including high-displacement motorcycles, advanced scooters, and new electric mobility platforms. 

Meanwhile, shares of TVS Motor were trading at Rs 3,446.9 each, up 1.2 per cent on BSE today, September 26, at around 10.41 PM.

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