Acquisitions3 Feb 2025, 08:26 pm
TVS Motor Company's Subsidiary Pays EUR 1.6 Million for Additional Stake in Killwatt GmbH
AI Summary
TVS Motor Company Ltd.’s subsidiary, TVS Motor (Singapore) Pte Ltd, has paid EUR 1.6 million towards the acquisition of an additional 9.72% stake in Killwatt GmbH. This payment is in addition to the EUR 2 million already paid on 29 February 2024. The balance of EUR 0.4 million will be paid at a later date, subject to the completion of a specific pre-agreed milestone by Killwatt GmbH. This development is a follow-up to the company's earlier disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- TVS Motor (Singapore) Pte Ltd has paid EUR 1.6 million towards the acquisition of an additional 9.72% stake in Killwatt GmbH
- This payment is in addition to the EUR 2 million already paid on 29 February 2024
- The balance of EUR 0.4 million will be paid at a later date, subject to the completion of a specific pre-agreed milestone by Killwatt GmbH
- This development is a follow-up to the company's earlier disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015