M&A
TVS Motor acquires 75% stake in Swiss e-bike firm SEMG for $65-M
Chennai-based, publicly listed TVS Motor Company has acquired a 75% stake in Zurich, Switzerland-based E-Mobility Group (SEMG), a provider of e-mobility solutions within the DACH region. SEMG operates M-way, the largest pure-play e-bike retail chain in Switzerland, with close to USD 100 million in revenue. The company's portfolio of Swiss mobility brands includes Cilo, Simpel, Allegro, and Zenith. TVS will acquire 114,658 common equity shares of SEMG at CHF 525.78 apiece, aggregating to CHF 60.3 million (approx USD 65 million). The acquisition has been made in an all-cash deal through TVS Motor's Singapore Subsidiary, TVS Motor (Singapore) Pte Ltd.
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