TVS Motor to invest 890 mln in new firm

Newswire

MUMBAI, March 27 (Reuters) - TVS Motor Company Ltd said on Friday its board has approved investing 890 million rupees in a new firm, which in turn will invest in the financing business of TVS's two and three wheelers. TVS did not divulge on how much stake it will get in the new company or the name of the firm. The board also approved restructuring the capital of its associate firm, TVS Finance and Services Ltd. (Reporting by Swati Pandey; Editing by Prem Udayabhanu)

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