Tata Motors to sell 9.9% stake in Tata Tech for ₹1,613.7 crore

Tata Motors Ltd has entered into share purchase agreements to sell 9.9 per cent stake in Tata Technologies Ltd for an aggregate consideration of ₹1,613.7 crore. TPG Rise Climate is the lead investor for this transaction, which ascribes an equity valuation of ₹16,300 crore ($2.0 billion) for TTL.

TTL is a engineering services company offering product development and digital solutions to global original equipment manufacturers.

TPG Rise Climate is the dedicated climate investing arm of TPG’s $18 billion global impact investing platform.

This transaction furthers TML’s de-leveraging agenda, and is expected to be closed in the next two weeks on completion of customary closing procedures.

TPG Rise Climate had earlier invested $1 billion in Tata Passenger Electric Mobility Limited

COMMENT NOW

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Tata Motors to sell 9.9% stake in Tata Tech for ₹1,613.7 crore

The transaction is expected to be closed in the next two weeks

You might also like

You might also like

Comments

Tata Motors to sell 9.9% stake in Tata Tech for ₹1,613.7 crore

The transaction is expected to be closed in the next two weeks

Related Topics

You might also like

You might also like

Comments