Tata Motors to sell 9.9% stake in Tata Technologies for Rs 1,614 crore.
TPG Rise Climate SF Pte. Ltd will buy for 9.0% and Ratan Tata Endowment Foundation will acquire the balance 0.9% stake in Tata Technologies Limited.
Tata Motors currently has 74.69 percent stake in Tata Technologies Limited. The current transaction is made valuing TTL at INR 16,300 Cr (~US$ 2.0 billion).
Note that the share price of Tata Motors was up 4% today.
See the press release here.
AJ
Disclosure: Remain invested in DVR. Views are biased.
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