M&A

M&A

TVS Motor picks up 70% in UK's e-bike firm EBCO for Rs.11.6 Cr

Business Line  

Two and three-wheeler maker TVS Motor Company has picked up a majority stake in UK-based EBCO which is engaged in the development and manufacture of e-bikes, for INR 11.6 crore (GBP 1,163,070). TVS Motor (Singapore) Pte Ltd (TVSM Singapore), a wholly-owned subsidiary of TVS Motor Company, acquired a 70% stake in EBCO. Post the transaction, EBCO has become a subsidiary of TVSM Singapore as well as the company.