Castrol India to acquire 7.09 pc stake in TVS Automobile Solutions’ digital arm

Lubes maker Castrol India Limited (CIL) on Friday said it will acquire a 7.09 per cent stake in TVS Automobile Solutions’ digital subsidiary Ki Mobility Solutions with a planned investment of Rs 487.5 crore in an all-cash deal.

With this strategic investment, CIL aims to expand its presence in service and maintenance for both internal combustion engine (ICE) and electric vehicles (EV) and leverage myTVS’ digital and operational capabilities, a release said.