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TVS Motor skids 7% on acquisition of Switzerland's e-bike player SEMG

This acquisition furthers TVS Motor's commitment towards e-personal mobility products, the company said.

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SI Reporter Mumbai
Shares of TVS Motor Company slipped 7 per cent to Rs 585.20 on the BSE in Friday’s intra-day trade in an otherwise firm market after the company announced it acquired 75 per cent stake in Swiss E-Mobility Group (SMEG) for $100 million (about Rs 752 crore).

The acquisition reaffirms TVS Motor Company’s commitment to expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired, the company said in a press release. TVS Motor had bought 80 per cent stake in EGO Movement for $17.9 million in September

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First Published: Jan 28 2022 | 11:36 AM IST

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