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AZB acts for TV Sundaram on $14.5m TV Sundram buy of Lanka JV

“United Motors Lanka PLC (UML) yesterday announced that it sold its entire stake in TVS Lanka (Private) Limited to the TVS parent company in India for Rs 1 billion.

In a filing to the Colombo Stock Exchange, UML said it sold 17.5 million shares in TVS Lanka, representing a 50 percent stake, to TV Sundaram Iyengar and Sons (Private) Limited, which is the holding company for TVS,” reported Daily Mirror Sri Lanka.

AZB & Partners advised TV Sundram Iyengar & Sons (Private) Limited led by a team of partner Srinath Dasari.


Deal value: Rs 100 crore

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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