TVS Automobile Solutions acquires Mahindra First Choice service business

As part of the transaction, M&M will secure a minority stake in TVS ASPL and in turn, MFCSL will become a subsidiary of TVS ASPL

TVS Automobile Solutions Pvt Ltd, (TVS ASPL), part of $8.5 billion TVS Group, has acquired the service business of  Mahindra First Choice Services Ltd (MFCSL), a pan-India chain of multi-brand car and two-wheeler service workshops. MFCSL belongs to the $19.4 billion Mahindra Group. 

As part of the transaction, Mahindra and Mahindra Ltd will secure a minority stake in TVS ASPL and in turn, MFCSL will become a subsidiary of TVS ASPL. 

MFCSL will integrate its operations with TVS ASPL. The move will enable the two organisations to combine their strengths and organise the highly fragmented automobile aftermarket services space in