Ince & Co Singapore has represented The Warranty Group (TWG) in its joint venture with TVS Automobile Solutions. The joint venture company (based in India) will offer extended warranties and related services and solutions throughout India, Bahrain, Kuwait, Saudi Arabia, the UAE, Qatar, Bangladesh and Sri Lanka.
The joint venture company will initially focus on automobile, light truck and two-wheeler vehicle segments and then intends to expand into the appliance, technology, electronics and other consumer products categories.
Products offered will include a range of service contracts, extended warranties, limited warranties and prepaid maintenance programmes.
While the know-how for the business, intellectual property and historical claim data (worldwide) is to be provided by TWG, the regional expertise, customer relationship and administration support is to be provided by TVS. TWG owns 49 per cent and TVS owns 51 per cent of the issued shares and convertible debentures in the joint venture, with control being exercised equally by the shareholders.
Ince & Co senior associate Kunal Kapoor led the team that advised TWG. Martin David, Carolyn Chia and Aruno Rajaratnam supported Kapoor.