Tata Motors to sell 43% stakes in Tata Technologies to Warburg Pincus
DSIJ Intelligence / 16 Jun 2017
Tata Motors will be selling its 43 per cent stakes in Tata Technologies to Warburg Pincus, a private equity firm for $360 million, as per the information filed by the company on bourses on Thursday, after market hours.
Tata Motors will be selling its 43 per cent stakes in Tata Technologies to Warburg Pincus, a private equity firm for $360 million, as per the information filed by the company on bourses on Thursday, after market hours.
Post completion of the transaction, Tata Motors and the Tata Group will hold 43 per cent stake in the company.
Sheba properties, a Tata Motors arm will be selling its entire 13 per cent stake in the company.The remaining 30 per cent held by Tata Motors will be offloaded to Warburg Pincus.
The management team and other shareholders will hold the remaining stakes in the company.
Tata Technologies is an engineering services and product development information technology company.
Tata Motors is trading in green up by more than 1.6 per cent in the opening hours of the trade on Friday.
Major benchmark indices have opened flat on Friday, with BSE Sensex trading at 31150 levels, up by 76 points or 0.25 per cent.
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