Warburg Pincus to buy 43 percent in India's Tata Tech for $360 million_Markets_Asia Pacific Daily

To download APD News app

1. Please scan the QR Code 2. Download and install APD News App

Warburg Pincus to buy 43 percent in India's Tata Tech for $360 million

Markets2017-06-16

An affiliate of private equity firm Warburg Pincus will buy an about 43 percent stake in Indian engineering outsourcing provider Tata Technologies Ltd for $360 million.Warburg will buy an about 30 percent stake from Tata Motors and its subsidiary, Sheba Properties Ltd, and another 13 percent held by Tata Capital in Tata Technologies, Tata Motors said in a statement on Thursday.Tata Motors and affiliates of Tata Group will continue to own about 43 percent of Tata Technologies, while the company's management team and other shareholders will own the remainder, it added."The partial divestment is part of Tata Motors' plan to strategically monetize part of the value created while also including a valuable partner, together with whom the Company can excel its next phase of growth," Tata Motors group finance chief C. Ramakrishnan said in the statement.(REUTERS)

1497581936927720.png

An affiliate of private equity firm Warburg Pincus will buy an about 43 percent stake in Indian engineering outsourcing provider Tata Technologies Ltd for $360 million.

Warburg will buy an about 30 percent stake from Tata Motors and its subsidiary, Sheba Properties Ltd, and another 13 percent held by Tata Capital in Tata Technologies, Tata Motors said in a statement on Thursday.

Tata Motors and affiliates of Tata Group will continue to own about 43 percent of Tata Technologies, while the company's management team and other shareholders will own the remainder, it added.

"The partial divestment is part of Tata Motors' plan to strategically monetize part of the value created while also including a valuable partner, together with whom the Company can excel its next phase of growth," Tata Motors group finance chief C. Ramakrishnan said in the statement.


(REUTERS)


Hot Recommended

  • Chinese warships visit London for the first time

  • NYC Empire State Building shines for Chinese Mid-Autumn Festival

  • Experts: Bali volcano "more than likely" to erupt

  • Yuan gets more international recognition despite volatility

  • Poems and songs to make a graceful Chinese Mid-Autumn Festival

  • Investigators probe Air France A380 after engine blow-out