Mar 27, 2018

United Motors sells stake in TVS Lanka for Rs1b

United Motors Plc, agents in Sri Lanka for Mitsubishi automobiles, has announced they are selling its 50% stake in its joint venture TVS Lanka (Private) Ltd. to India's T V Sundaram Iyengar & Sons Ltd. for a billion rupees. 

A stock exchange filing said United Motors has entered into a sale and purchase agreement with T V Sundaram Iyengar & Sons to sell its stake of 17.5 million shares.

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