India’s Eicher set to bid up to $2 billion for Ducati

India’s Eicher Motors is going to make a offer of $1.8 billion-$ 2 billion for Italian motorbike producer Ducati, the Economic Times newspaper reported, although German owner Volkswagen has put the sale process on hold, sources stated.

Volkswagen put Ducati up for sale in April to finance a strategic overhaul following the emissions scandal, however it has faced resistance from German trade unions and internal rifts concerning the group’s technique.

Previously this week, Volkswagen instructed 5 potential buyers to hold back making binding bids, sources familiar with the auction informed Reuters.

Mumbai-based Eicher, that makes Royal Enfield motorbikes, is thought to be the only Asian company left in the auction and the Economic Times quoted unnamed sources saying it is presently settling terms ahead of the initial bid due date of end-September.

Bologna-based Ducati is managed by VW’s Audi division, which in addition to Volkswagen refused to comment.