Hero MotoCorp to merge with Bain, GIC-backed investment arm
Hero MotoCorp, India's largest two-wheeled vehicle manufacturer, approved a proposal to merge the investment arm of its parent company - Hero Investments - into the automaker. Private-equity funds Bain Capital and the Government of Singapore Investment Corp (GIC), who were originally shareholders of Hero Investments, will take direct stakes in the company after the merger.
The merger, which comes 18 months after Hero MotoCorp announced its split from Honda Motor, is still subject to approval from the Delhi High Court, the shareholders and creditors of the respective companies,...
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