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Tata Motors to partially divest its stake in Tata Technologies

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Warburg Pincus to acquire approx. 43% stake in Tata Technologies

announced that that a Committee of the Board of the Company has on June 14, 2017 approved the partial divestment of the stake held by the Company in Tata Technologies, a subsidiary of the Company and definitive documents have been entered into in this regard.

An affiliate of Warburg Pincus has committed to invest around USD 360 million for approximately 43% equity stake in Tata Technologies. Warburg Pincus will purchase approximately 30% stake from and its subsidiary Sheba Properties as well as the entire 13% stake held by Tata Capital. Post the transaction, and affiliates of the Tata Group will continue to retain a significant minority interest of approximately 43% in Tata Technologies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 17:13 IST