TI Cy­cles to ac­quire two Sri Lankan firms

The Hindu Business Line - - NEWS -

TI Cy­cles of In­dia has signed a de­fin­i­tive agree­ment to ac­quire a con­trol­ling stake in Cre­ative Cy­cles (Pvt) Ltd andGreat Cy­cles (Pvt) Ltd, Colombo, Sri Lanka, ac­cord­ing to a press re­lease from TI Cy­cles. The ac­qui­si­tion will strengthen the global sup­ply chain for the premium cy­cles port­fo­lio. TI Cy­cles is a di­vi­sion of Tube In­vest­ments of the Mu­ru­gappa Group. The ac­qui­si­tion is ex­pected to close by the end of this fi­nan­cial year.

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