TVS Motor Company has received an approval to divest its majority stake in TVS Energy, a subsidiary of the company, subject to fulfilling certain related conditions agreed to between the parties before effecting actual transfer of shares in TVS Energy pursuant to an agreement signed on August 08, 2013. The board of director at its meeting has approved for the same.
TVS Motor Company is the flagship of the $6 billion Indian conglomerate, TVS Group which recently celebrated one hundred years in the automotive business in India. The company recently won 'India's Most Trusted Two Wheeler Brand' Award from the Times Group.