The Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of additional shareholding in TVS Supply Chain Solutions Pvt Ltd by TS Rajam Rubbers Pvt Ltd and Dhinrama Mobility Solution Pvt Ltd.
TVS Supply Chain Solutions, which is an unlisted public company, offers logistics and supply chain solutions in India and international market. The competition watchdog said that the acquisition has been approved under Section 31(1) of the Competition Act, 2002.
“The proposed transaction will be carried out through a secondary purchase from CDPQ Private Equity Asia Pte. Ltd. (CDPQ),” an official statement added.
TS Rajam Rubbers Pvt Ltd and Dhinrama Mobility Solution Pvt Ltd are wholly owned subsidiaries of TVS Mobility Pvt Ltd, which is owned and controlled by TS Rajam Family.
The family members are also the promoters of TVS Supply Chain Solutions Pvt Ltd, the statement added.