TVS Motor Company’s wholly owned subsidiary -- Sundaram Auto Components (SACL) has received approval from board of directors to sell its injection moulded plastic component solutions division to Pricol Precision Products (PPPPL), a wholly owned subsidiary of Pricol, as a going concern on a slump sale basis (Proposed Transaction). SACL and PPPPL will execute a Business Transfer agreement in connection with the Proposed Transaction.
The consideration for the proposed transaction is Rs 215.3 crore, subject to adjustments set out in the Business Transfer Agreement.
TVS Motor Company is a reputed two and three-wheeler manufacturer. TVS Motor’s strength lies in its extensive research and development, resulting in products that are industry leading in terms of innovation.
