Warburg Pincus is a leading US-based private equity firm. This firm will acquire a 43% stake in Tata Technologies, Singapore based company. The rate of this stake will be $360 million and Tata Motors revealed this deal in its regulatory filing. An affiliate of the private equity firm Warburg Pincus will obtain 30% from Tata Motors, Sheba Properties and entire 13% stake of Tata Capital.
A minatory interest of 43%
Tata Technologies is the global engineering services as well as product development IT Company. This company has more than 8,500 employees in 23 countries. This company is one of the subsidiaries of Tata Motors. Tata Motors and its all affiliates will hold only a minority interest of forty three percentages in the Tata Technologies after the transaction. Shareholders and the management team will get the remaining ownership of Tata Technologies.
The partial disinvestment
C Ramakrishnan is the CFO of Tata Motor Groups. He revealed that the partial disinvestment is the main part of the plan of the Tata Motors to monetise the value created while inducting the most valuable partners along with whom the company can succeed in the upcoming days.
Vishal Mahadevia is the Warburg Pincus India Managing Director and Co Head. He revealed that the company has geared up to back management team at Tata Technologies. This decision is very helpful to leverage the global network of the Warburg Pincus to enhance the overall business.
Warren Harris is the CEO and MD of Tata Technologies. He assumed that this investment testament going to be a great achievements of the company and the absolute potential to move forward. Tata Technologies in recent years successfully provide a wide range of services for advanced engineering, connected IT solutions and research and development. Every member of staff of this company has expertise and experiences required to excel in their profession.