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Mitsubishi Corp to hike stake in TVS Automobile Solutions from 3% to 25%

Japanese firm will work to expand TASL's business and participate in Indian market by introducing Japanese automotive parts suppliers and enhancing price competitive parts line-ups for TASL

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downlaod TVSAutomobileSolutionsPrivateLimited(TASL),oneofIndia’sleadingindependentaftermarketplayersandpartofthe$8.5bnTVSgroup,hasannouncedstrategicpartnershipwithMitsubishiCorporation(MC),Japan.Mitsubishiwilltakeasubstantialminoritystakeinthecompany.  TheagreementissubjecttoapprovalbyCompetitionCommissionofIndia(CCI)&otherrelevantauthorities,saidRDinesh,director,TVSAutomobileSolutions. MitsubishiCorporationwillincreaseitsstakefromthreepercentto25percentinTASLthroughacombination ...