The Competition Commission of India (CCI) has given its approval to T S Rajam Rubbers Private Limited and Dhinrama Mobility Solutions Private Limited to amass stake in TVS Supply Chain Solutions Private Limited.
The approval by the competitors watchdog was given on Tuesday. Both T S Rajam Rubbers and Dhinarama Mobility Solutions are owned and managed by T S Rajam household.
The two entities have acquired the stake in TVS Supply Chain Solutions from an present shareholder.
“The acquirers (the two entities who have taken the stake) are wholly owned subsidiaries of TVS Mobility Private Limited, which is owned and controlled by Shri T S Rajam Family. The T S Rajam Family members are the promoters of the target (TVS Supply Chain Solutions),” an announcement issued by the Ministry of Corporate Affairs stated.
The goal is an unlisted public firm and together with its associates, it’s engaged in provision of logistics and provide chain options companies in India and overseas, the assertion added additional.
“The proposed transaction will simplify the shareholding structure of the target and will help in better alignment between strategic objectives of the management and shareholders as the acquirer promoter group would be holding a majority stake in the target post the proposed transaction,” a discover filed earlier with CCI stated.