M&M sells MFCS to TVS as a part of capital allocation assessment

Mahindra and Mahindra on Thursday introduced the sale of its car service enterprise, Mahindra First Option to TVS Car Options Pvt Ltd (TASL), a part of Chennai-based TVS Group, in a share swap deal. As a part of the engagement, M&M will take 2.76% stake in TASL and can make investments roughly Rs 35 crore, says VS Parthasarathy, Group CFO, M&M.