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That is the second acquisition by TVS Motor in current occasions after the buyout of majority stake in e-mobility agency EGO Motion in September.
TVS Motor Co. has acquired 75% stake in Switzerland’s largest e-bike participant Swiss E-Mobility Group for $100 million.
The acquisition has been made in an all-cash deal by TVS Motor (Singapore) Pte Ltd. That is the second acquisition by TVS Motor in current occasions after the buyout of majority stake in e-mobility agency EGO Motion — additionally Swiss — in September.
Asserting that the agency was planning to purchase the remaining stake subsequent yr, Sudarshan Venu, JMD, TVS Motor, stated: “We see this as a key driver of our development in Europe and different developed markets.”
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