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Japan’s Mitsubishi Corp. is increasing its 3% stake in TVS Automobile Solutions Pvt. Ltd (TASL) to 25%. Mitsubishi, which had bought a 3% stake in TASL last year, is investing in excess of ₹250 crore to increase its stake through primary investment and secondary purchase.
Trilegal advised Mitsubishi Corp. and the team was led by Partner Charandeep Kaur along with Counsel Prateek Rastogi and Clarence Anthony, Senior Associates Shringarika Priyadarshini and Harshit Anand and Associates Dhruv Malhotra, Abhimanyu Hazari and Yashaswee Sarkhel.
Partner and National Head – Competition Nisha Kaur Uberoi along with Partner Soumya Hariharan, Counsel Gautam Chawla, Senior Associate Nandita Sahai and Associates Harshita Parmar, Sarthak Pande and Shambhvi Sinha advised on competition law aspect.
AZB & Partners advised TASL with the team led by Partners Srinath Dasari and Nanditha Gopal along with Associate Shantanu Singh.
The new arrangement will help TASL to source parts from Japanese auto parts suppliers directly for India’s automotive aftermarket, while Mitsubishi, along with TASL, would replicate the latter’s business model in other similar markets such as West Asia and Africa as part of global business expansion, reported Mint.