Global Private equity firm Carlyle and Indian billionaire Azim Premji’s investment unit are both in talks to acquire a stake worth around $150 million in TVS Credit Services, an arm of scooter and motorcycle maker TVS Motors, according to a report by Reuters.
The report cites unnamed sources as confirming that the two are in competition to acquire a 20% holding in the the business, which has a valuation of around $612 million.
TVS Credit traditionally offers loans for two-wheel vehicles and used cars, supporting the business of its parent company, but recently expanded into personal, consumer loans and pre-approved credit via credit cards for items such as mobile phones.
