Tata Motors Sells 9.9% Stake In Tata Technologies At Rs. 16,300 Cr Equity Valuation
Tata Motors (TML) has entered into share purchase agreements to sell 9.9 per cent stake in Tata Technologies (TTL) for an aggregate consideration of Rs. 1,613.7 crore.
TPG Rise Climate is the lead investor for this transaction, which ascribes an equity valuation of Rs.16,300 Cr (~US$2.0billion) for TTL.
TPG Rise Climate is the dedicated climate investing arm of TPG’s $18 billion global impact investing platform. The fund focuses on five climate sub-sectors: energy transition, green mobility, sustainable fuels, sustainable molecules, and carbon solutions.
This transaction furthers TML’s de-leveraging agenda and is expected to close in the next two weeks on completion of customary closing procedures.
TTL, a subsidiary of TML, is a global engineering services company offering product development and digital solutions to global original equipment manufacturers. TTL has deep domain expertise in the automotive industry and leverages this expertise to serve clients in adjacent industries, such as in aerospace, transportation, and construction heavy machinery.
TPGRise Climate had earlier invested $1.0billion in Tata Passenger Electric Mobility and is a strategic partner in TML’s journey to create electric passenger mobility business in India.
