The Competition Commission of India (CCI) announced on Wednesday that it has approved the acquisition of an additional stake in TVS Supply Chain Solutions Pvt Ltd by TS Rajam Rubbers Pvt Ltd and Dhinrama Mobility Solution Pvt Ltd.
TVS Supply Chain Solutions, a privately held public company, provides logistics and supply chain solutions in India and the international market. The competition watchdog said the acquisition was cleared under Section 31 (1) of the 2002 Competition Act.
“The planned transaction will be completed by a second purchase from CDPQ Private Equity Asia Pte. Ltd. (CDPQ) ”added an official statement.
TS Rajam Rubbers Pvt Ltd and Dhinrama Mobility Solution Pvt Ltd are wholly owned subsidiaries of TVS Mobility Pvt Ltd, owned and controlled by the TS Rajam Family.
The family members are also the promoters of TVS Supply Chain Solutions Pvt Ltd, the statement said.