Warburg Pincus To Pickup 43% Stake in Tata Technologies

Warburg Pincus, LLC an American private equity firm will buy about 43% stake in Tata Technologies Ltd, an Indian engineering outsourcing pro...

Warburg Pincus, LLC an American private equity firm will buy about 43% stake in Tata Technologies Ltd, an Indian engineering outsourcing provider $360 million (INR 23.25 Billion). Warburg will also buy about 30% stake from Tata Motors and Sheba Properties Ltd which is a subsidiary and in Tata Capital about 13% held in Tata Technologies, Tata Motors said in a statement that the Tata Motors and affiliates of Tata Group will continue to own about 43% of Tata Technologies, while the company's management team and other shareholders will own the remaining, the statement said.

Tata Motors Group Finance chief C. Ramakrishnan said that the partial divestment is part of Tata Motors plan to strategically monetize part of the value created while also including a valuable partner, together with whom the Company can excel its next phase of growth, in the statement.