TVS Motor gets shareholders' nod for stake sale in Sundaram Holding

Two and three-wheeler manufacturer TVS Motor has received shareholders' approval for the sale of its entire 50.05% stake in its subsidiary Sundaram Holding USA Inc (SHUI), the company informed the stock exchanges on Thursday. TVS Motor will sell the stake to Sundaram-Clayton Limited (SCL), the holding company. It will reportedly receive ₹317.01 crore from the disposal.