CCI Approves Mitsubishi Corporation's Acquisition of Equity Stake in TVS Entities

The proposed transaction involves Mitsubishi Corporation (the Acquirer) acquiring an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2).


Devdiscourse News Desk | New Delhi | Updated: 11-06-2024 22:34 IST | Created: 11-06-2024 22:34 IST
CCI Approves Mitsubishi Corporation's Acquisition of Equity Stake in TVS Entities
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The Competition Commission of India (CCI) has granted approval for Mitsubishi Corporation's acquisition of certain equity stakes in TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

The proposed transaction involves Mitsubishi Corporation (the Acquirer) acquiring an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2).

Mitsubishi Corporation is a globally integrated business enterprise with a presence in 90 countries and regions, operating across various industries such as natural gas, industrial materials, petroleum & chemicals, mineral resources, automotive & mobility, and more.

Business Activities of the Targets:

TVS Certified Private Limited (Target 1): This entity is primarily involved in the sale of used vehicles, primarily through offline channels such as physical auction yards.

TVS Vehicle Mobility Solution Private Limited (Target 2): This entity engages in various activities including dealership and distribution of commercial vehicles, passenger vehicles (including electric vehicles), construction equipment, material handling vehicles, as well as motor vehicle services. It also undertakes dealership and distribution of spare parts for vehicles for specific manufacturers.

CCI Approval:

The approval from CCI allows Mitsubishi Corporation to proceed with the acquisition of equity stakes in the mentioned targets. This transaction signifies Mitsubishi Corporation's strategic expansion into the automotive and mobility sector in India, leveraging the expertise and business operations of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.

 
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