GREEN MOBILITY GROWTH:TVS Motor buys Swiss e-bike maker SEMG for $100 m
Financial Express Mumbai|January 28, 2022
BETTING BIG ON the personal e-mobility market in Europe and India, TVS Motor Company on Thursday announced the acquisition of a 75% stake in Switzerland's largest e-bike players Swiss EMobility Group (SEMG) for consideration of $100 million.

The acquisition has been made in an all cash deal through TVS Motor's Singapore Subsidiary, TVS Motor (Singapore) Pte.

The buyout is in line with TVS Motor's strategy to expand in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired. The company had acquired Switzerland-headquartered ebike maker EGO Movement for a consideration of 16.6 million Swiss franc (CHF), in September 2021.

SEMG is a market-leading provider of e-mobility solutions within the DACH region, operating the largest pure-play ebike retail chain M-way in Switzerland with close to $100 million in revenue.

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