TVS picks up majority stake in Cholamndalam’s freight solution company

3PL major TVS Logistics, the supply chain wing of TVS group, has picked up majority stake in White Data Systems, a subsidiary of Cholamandalam Finance. TVS Logistics has agreed to invest Rs 41 crore to buy 51 per cent stake in the company which is a technology start-up and specializes in freight data solutions for commercial vehicles. White Data systems offer its services under the brand iLoads.

“Upon TVSLSL completing its investment in WDSI, consequently the company’s holding in WDSI will be reduced to 31 per cent from the current 63 per cent and WDSI will cease to be a subsidiary of the company,” Cholamandalam informed the exchanges recently.

Spread the love

Related posts

Leave a Comment