TVS Motor arm acquires a German company

TVS Motor arm acquires a German company

The object of this acquisition is to undertake activities like research, development, engineering, service, and sales of two-wheeler and three-wheeler vehicles.

FPJ Web DeskUpdated: Thursday, December 08, 2022, 01:23 PM IST
article-image
TVS Motor arm acquires a German company | Twitter

TVSM Singapore, a wholly-owned subsidiary of TVS Motor company, has acquired 100 per cent stake in BBT 35/22 Vermögensverwaltungs GmbH for Euro 25,000, the company announced in an exchange filing.

The company has proposed to change the name of the acquired company to Celebrity Motor GmbH post acquisition. It will also become a subsidiary of TVS Motor Singapore.

The object of this acquisition is to undertake activities like research, development, engineering, service, and sales of two-wheeler and three-wheeler vehicles.

The German company, BBT 35/22 Vermögensverwaltungs GmbH was incorporated on June 8, 2022, and is yet to commence its business operations.

TVS Motors consolidated profit jumped by 59.5 per cent to Rs 386.31 crore and a rise of 32 per cent in sales to Rs 8,560.76 crore in the second quarter of this financial year over the same period last year.

The shares of the company went up 0.42 per cent at Rs 1029.65 on the BSE.

RECENT STORIES

SEBI Analyses Profit & Loss Of Individual Traders In EDS; Says 91% Of Individual Traders Suffered...

SEBI Analyses Profit & Loss Of Individual Traders In EDS; Says 91% Of Individual Traders Suffered...

Market Outlook: Technical Call of the Day & Top 5 Stocks in Focus for 8th Jul 2025

Market Outlook: Technical Call of the Day & Top 5 Stocks in Focus for 8th Jul 2025

Mumbai News: MHADA, Adani Realty Ink Landmark Pact For Goregaon's Largest Redevelopment Project

Mumbai News: MHADA, Adani Realty Ink Landmark Pact For Goregaon's Largest Redevelopment Project

Aviation News: Akasa Air Signs 3-Year C-Check Maintenance Deal With GMR Aero Technic For Boeing 737...

Aviation News: Akasa Air Signs 3-Year C-Check Maintenance Deal With GMR Aero Technic For Boeing 737...

IndiGo Launches Direct Daily Flight Between Mumbai And Jalndhar’s Adampur, Enhancing Regional...

IndiGo Launches Direct Daily Flight Between Mumbai And Jalndhar’s Adampur, Enhancing Regional...