TVS Motor Company has announced that its wholly owned subsidiary, TVS Motor (Singapore) Pte. Ltd, along with TVS EBike Company AG, has entered into asset transfer agreements with Callista Asset Management 33 GmbH. The agreement, signed on 14 May 2026, involves the proposed transfer of certain assets and liabilities owned by TVS EBike.
The transaction is valued at CHF 16 million, representing the book value of the net assets, and is subject to adjustments as outlined in the asset transfer agreements. The completion of the sale is expected by 13 August 2026, with the consideration to be settled over a 24-month period.
Callista AMG, the buyer, is a company incorporated under the laws of Germany and does not belong to the promoter or promoter group of TVS Motor. The transaction does not fall within related party transactions and is conducted at arm’s length.
TVS EBike, incorporated in Switzerland, operates a retail network under the m-way brand and manages B2B sales across Europe and the UK. It also designs, develops, and markets e-bikes under several owned brands, including Cilo, Simpel, Allegro, EGO Movement, and EBCO.
The standalone turnover of TVS EBike for the calendar year 2025 was CHF 51.55 million, with a net worth of CHF 2.63 million. The proposed transaction is not a slump sale but a strategic decision by the board of directors of TVS EBike to sell certain assets and liabilities in response to evolving market conditions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).