The Competition Commission of India (CCI) has approved TS Rajam Rubbers Private Limited and Dhinrama Mobility Solutions Private Limited to acquire a stake in TVS Supply Chain Solutions Private Limited.
The race watchdog’s approval was given on Tuesday. Both TS Rajam Rubbers and Dhinarama Mobility Solutions are owned and controlled by the TS Rajam family.
The two entities have acquired the stake in TVS Supply Chain Solutions from an existing shareholder.
“The acquirers (the two entities that took the stake) are wholly owned subsidiaries of TVS Mobility Private Limited, which is owned and controlled by Shri TS Rajam Family. The members of the TS Rajam Family are the promoters of the target ( TVS Supply Chain Solutions),” said a statement from the Department of Corporate Affairs.
The target is a privately held public company and, along with its subsidiaries, is engaged in providing logistics and supply chain solutions in India and abroad, the statement said.
“The proposed transaction will simplify the target’s shareholder structure and will help align the strategic objectives of management and shareholders as the acquiring promoter group would have a majority stake in the target following the proposed transaction,” said a previously filed transaction. message. with CCI said.