On Tuesday, TVS Supply Chain Solutions Ltd. (TVS SCS) said that Mitsubishi Corporation had invested an undisclosed amount in the company for acquiring minority stake.
TVS Group said Mitsubishi Corp. has acquired stake from Tata Opportunities Fund (TOF), which has planned for a partial exit in the company. In 2015, the TOF had firstly invested in TVS SCS for a minority stake. TOF has also invested in TVS SCS for funding acquisitions and supporting future growth plans, it added.
“Mitsubishi’s investment is through a secondary market transaction which will allow an existing investor – Tata Opportunities Fund – to secure a partial exit,” the company said in an official statement. The TOF would be holding its residual stake and would remain as a key strategic investment partner for the company, it said.
Last year, Japan’s Mitsubishi Corp. had invested Rs 250 crore in TVS Automobile Solutions Pvt Ltd. (TVS ASL) and has increased its stake from 3 per cent to 25 per cent.
TVS SCS has its presence across 14 countries and provides end-to-end supply chain services to multiple sectors such as automobiles, information technology (IT), healthcare, telecom, retail, beverages, fast moving consumer goods (FMCG) and defense.