Warnburg Pinus to invest $360 million to acquire 43% stake in Tata Technologies
Warnburg Pinus to invest $360 million to acquire 43% stake in Tata Technologies

Private equity firm, Warburg Pincus will invest $360 million (around Rs 2,320 crore) to acquire a 43% stake in Singapore- based Tata Technologies, a subsidiary of Tata Motors.

An affiliate of Warburg Pincus will acquire around 30 per cent from Tata Motors and its subsidiary Sheba Properties as well as Tata Capital's entire 13 per cent stake, Tata Motors said.

Following the transaction, Tata Motors and its affiliates will continue to hold a minority interest of 43 per cent in Tata Technologies with the remaining ownership being held by management team and other shareholders.

Tata Technologies is a global engineering services and product development IT company which employs more than 8500 people in 23 countries.

C Ramakrishnan, CFO, Tata Motors Group, said, "The partial disinvestment is part of Tata Motors' plan to strategically monetise part of the value created while also inducting valuable partners, together with whom the company can excel in its next phase of growth."

Vishal Mahadevia, Managing Director and Co Head, Warburg Pincus India, said, "The company is looking forward to back management team at Tata Technologies and leveraging Warburg Pincus' global network to help grow the business."

Warren Harris, CEO & MD, Tata Technologies, said, "This investment is testament to our achievements to date and more importantly of our great potential moving forward."

 
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