Investment31 Mar 2025, 11:41 pm
TVS Motor Company Ltd Subsidiary Divests Stake in ION Mobility for USD 1.75 Million
AI Summary
TVS Motor Company Ltd has announced that its wholly-owned subsidiary, TVS Motor (Singapore) Pte Ltd, has divested its stake in ION Mobility Pte. Ltd., an associate company, for a net cash consideration of approximately USD 1.75 million. The transaction was completed on March 31, 2025. ION Mobility has ceased to be an associate of TVS Motor Company Ltd as well. The transaction does not fall under related party transactions and was effected at arm's length.
Key Highlights
- TVS Motor (Singapore) Pte Ltd divests stake in ION Mobility Pte. Ltd.
- Transaction valued at approximately USD 1.75 million.
- Divestment completed on March 31, 2025.
- ION Mobility ceases to be an associate of TVS Motor Company Ltd.
- Transaction does not fall under related party transactions.