Freienbach, 26th June 2023
With the end of the fiscal year 2022 and the completion of the required legal documentation, the transition of Swiss E-Mobility Group (SEMG) to its new ownership has been successfully completed and CONSTELLATION has subsequently executed its put option. With the sale of the remaining majority stake, the SEMG is now fully owned by TVS Motor Company (TVS). As part of the TVS family of companies, SEMG is in an optimal position to further strengthen its standing as a market leader in Switzerland and explore new strategic expansion opportunities.
Together with a group of minority shareholders, CONSTELLATION had sold 75% of the share capital in the SEMG to TVS in January 2022. As part of this transaction, the sellers had agreed to retain a minority stake of 25% to support the transition of SEMG to its new owners.
TVS Motor Company is the third largest two- and three-wheeler manufacturer and the second largest exporter of mopeds, scooters and motorcycles in India with customers on four continents and in over 60 countries. In Switzerland, TVS has already invested in e-bike specialist EGO Movement, signalling a long-term interest and confidence in the Swiss market. For SEMG, having such an experienced and reliable partner at its side presents great opportunities for implementing the group’s growth and long-term plans even more effectively.
CONSTELLATION congratulates TVS for the successful transaction and is grateful for the outstanding collaboration with the entire SEMG and TVS team over the past year.