TVS family to buy back CDPQ stake in TVS SCS
The Hindu
‘Fund bought ₹1,000-cr. stake in 2016’
TVS Supply Chain Solutions (TVS SCS) on Wednesday announced that TVS family members, along with their associates, will repurchase the stake held by private equity firm CDPQ, having received the CCI approval. This transaction will allow the TVS family to consolidate its holdings in TVS SCS, it said in a statement. It would also enable the company to focus on further scaling up business using ‘technology and strong customer relationships’, it added. The repurchase by TVS family members (R. Dinesh and T.S. Rajam family and associates) reaffirms the company’s growth potential and its future prospects, it added.
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