New Delhi, Aug 31 (PTI) Fair trade regulator CCI on Tuesday gave approval for acquisition of stake in TVS Supply Chain Solutions Pvt Ltd by T S Rajam Rubbers Pvt Ltd and Dhinrama Mobility Solution Pvt Ltd.

Both T S Rajam Rubbers and Dhinrama Mobility Solution are owned and controlled by the T S Rajam family.

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They will purchase the shareholding of TVS Supply Chain Solutions from an existing shareholder.

"The proposed transaction will simplify the shareholding structure of the Target and will help in better alignment between strategic objectives of the management and shareholders as the acquirer promoter group would be holding a majority stake in the target post the proposed transaction," a notice filed with the regulator said.

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TVS Supply Chain Solutions along with its affiliates is engaged in logistics services.

"Commission approves proposed acquisition of certain shareholding in TVS Supply Chain Solutions Private Limited by T S Rajam Rubbers Private Limited and Dhinrama Mobility Solution Private Limited," as per a tweet by the Competition Commission of India (CCI).

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