“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.

2019-03-26

Deal value: Rs 100 crore

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