Warburg Pincus to invest $360 mn

An affiliate of leading private equity major Warburg Pincus has committed to invest $360 million for approximately 43 per cent equity stake in Tata Technologies Limited, a leading engineering and services provider from India. Warburg Pincus will purchase approximately 30 per cent from Tata Motors Limited and its subsidiary Sheba Properties Limited, as well as the entire 13 per cent stake held by Tata Capital – i.e 8.7 per cent from Alpha TC Holdings Pte Ltd and 4.3 per cent from Tata Capital Growth Fund I. Citigroup Global Markets India Private Limited acted as the sole financial advisor to Tata Motors and Tata Capital Investment Banking acted as the sole financial advisor to Tata Capital. The transaction is subject to customary regulatory approvals said the company. Post the transaction, Tata Motors and affiliates of the Tata Group will continue to retain a significant minority interest of approximately 43 per cent in Tata Technologies, with the remaining ownership held by the management team and other shareholders.