TVS Motor Company has announced that its subsidiary, TVS EBike Company AG, has entered into agreements to transfer certain assets and liabilities to Callista Asset Management 33 GmbH. The transaction, valued at approximately CHF 16 million, is driven by evolving market conditions. The deal is expected to conclude by August 13, 2026, with the consideration to be settled over a 24-month period.
Transaction Overview
On May 14, 2026, TVS EBike Company AG—a step-down subsidiary of TVS Motor Company—formally entered into asset transfer agreements. This strategic decision involves the sale of specific business assets and liabilities to the German firm Callista Asset Management 33 GmbH. The transaction is a direct response to changing dynamics in the global market.
Financial and Operational Details
The estimated consideration for this transfer is CHF 16 million, which aligns with the book value of the net assets involved. The buyer, Callista AMG, is an independent entity and does not hold any affiliation with the promoter group. The payment for this transaction will be spread out over a duration of 24 months following the deal’s completion, which is anticipated to occur on August 13, 2026.
Business Context
TVS EBike currently maintains a significant retail network in Switzerland under the m-way brand and manages B2B sales across the UK and Europe. The entity also designs and markets a diverse portfolio of electric bike brands, including Cilo, Simpel, Allegro, EGO Movement, and EBCO. In the 2025 calendar year, TVS EBike reported a standalone turnover of CHF 51.55 million and a net worth of CHF 2.63 million. This divestiture marks a refined shift in the company’s operational focus.
Source: BSE
