wordpress blog stats
Connect with us

Hi, what are you looking for?

Warburg Pincus and Tata Tech deal worth Rs 2,320 crore called off

A deal to sell 43 per cent stake in Tata Technologies to Warburg Pincus has been called-off. The deal worth around Rs 2,320 crore has been called off due to “delays in securing regulatory approval and the recent performance of the company not meeting internal thresholds because of market challenges,” the company informed BSE. Following this, Tata Motors will continue to explore strategic options to sell its stake in Tata Technologies, the company added.

As per an announcement in June 2017, New York-based private equity firm Warburg Pincus was set to acquire stakes in Tata Technologies from Tata Motors and Tata Capital. The proceeds from the deal will likely help Tata Motors cut total debt that stood at Rs 793.2 billion.

Tata Technologies deals in engineering services outsourcing and product development IT services to the global manufacturing industry. It is headquartered in Singapore with a total workforce of 8,500.

Warburg Pincus investments

In December 2017, Bharti Airtel announced that Warburg Pincus was to buy up to a 20% stake in its direct-to-home (DTH) TV arm for $350 million. Of this, 15% stake was from Bharti Telemedia and remaining 5% from another Bharti entity.

In September, Warburg Pincus also invested Rs 192 crore in e-commerce logistics solutions provider Ecom Express. Earlier that year, in January, the private equity firm also acquired 14% stake in PVR Cinemas for Rs 820 crore, through an open market transaction.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ