Maker of the American motorbike Harley-Davidson (H-D) and Taiwanese scooter producer Kymco will enter a strategic partnership in the Livewire electric motorcycle model. After spinning off Livewire as a separate motorbike model in July, H-D is in search of itemizing on the New York Stock Exchange (NYSE), along with a particular objective acquisition firm AEA-Bridges Impact Corp (ABIC).
H-D intends for Livewire to leverage on Kymco’s engineering experience, manufacturing footprint, distribution, provide chain infrastructure and international logistics capabilities, in response to a press launch. The partnership sees a USD 100 million (RM4,211,000) funding from each H-D and Kymco and financed by ABIC USD 400 million (RM1.68 billion) money held in belief.
H-D will retain a 74% fairness, with ABIC having 17% and Kymco in addition to ABIC founders having 4% every. Pending approval of ABIC shareholders, the itemizing is predicted to have an fairness worth of USD 2.31 billion (RM9.73 billion) with an enterprise worth of USD 1.77 billion (RM7.45 billion).
Jochen Zeitz, Chairman, President and CEO of H-D, might be Chairman and function Acting CEO of LiveWire for as much as two years following completion of the transaction. Ryan Morrissey will function President of LiveWire whereas Livewire’s board of administrators will embody unbiased administrators in addition to illustration from Harley-Davidson and ABIC.