TVS Motor Singapore Pte Ltd. (TVSM Singapore) has fully acquired Germany-based BBT 35/22 Vermogensverwaltungs GmbH for a cash consideration of 25,000 euros.
TVSM Singapore is planning to change the name of the wholly owned subsidiary (German firm) into Celerity Motor GmbH, the parent company TVS Motor Company said in a regulatory filing.
The acquired firm was incorporated in Germany on June 8, 2022 to undertake research, development, engineering, sales and service activities pertaining to two- and three-wheelers. It is yet to commence business operations.
