Tata Motors to sell stake in arm to TPG, Ratan Tata foundation
Tata Motors plans to sell a 9.9% stake in its IPO-bound subsidiary Tata Technologies to US private equity firm TPG and Ratan Tata's private endowment foundation for Rs 1,614 crore. TPG will acquire 9% of the company for Rs 1,467 crore, while Ratan Tata Endowment Foundation will buy under 1% for Rs 147 crore. The deal values Tata Technologies at Rs 16,300 crore.
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