NEW DELHI: TVS Motor Company has acquired a 75% stake in electric-bike major Swiss E-Mobility Group (SEMG). Going forward, the company has plans to acquire the remaining 25% stake.
“The valuation of the company (SEMG) is $100 million. So, the acquisition cost is $100 million. We have bought 75% of the company now and plans to take the rest 25% at a later date, sometime next year,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
The acquisition has been made in an all-cash deal through TVS Motor’s Singapore Subsidiary TVS Motor (Singapore) Pte Ltd.
SEMG is a provider of e-mobility solutions within the DACH region, operating e-bike retail chain M-way with close to $100 million in revenue. The DACH region refers to Germany (D), Austria (A), and Switzerland (CH).