The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of equity stakes in TVS Group entities: TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited.
Details of the Acquisition:
- Acquirer: Mitsubishi Corporation, a global integrated business enterprise with operations in 90 countries and around 1,700 group companies. Mitsubishi is active across numerous industries, including natural gas, industrial materials, automotive, and urban development.
- Targets:
- TVS Certified Private Limited: Specializes in selling used vehicles through offline auctions at physical auction yards.
- TVS Vehicle Mobility Solution Private Limited: Engages in dealership and distribution of commercial and passenger vehicles, including electric and construction vehicles, as well as motor vehicle services and spare parts distribution.
Key Highlights:
- Mitsubishi Corporation: Known for its extensive global reach and diversified business portfolio, Mitsubishi’s acquisition aims to strengthen its presence in the automotive and mobility sectors.
- TVS Certified Private Limited: Focuses on the used vehicle market, conducting sales primarily through physical auctions.
- TVS Vehicle Mobility Solution Private Limited: Involved in the dealership and distribution of a wide range of vehicles and providing comprehensive motor vehicle services.
This strategic acquisition by Mitsubishi Corporation is set to enhance its capabilities and market presence in India’s automotive sector through collaboration with the well-established TVS entities.
