{"id":657239,"date":"2013-05-10T07:09:41","date_gmt":"2013-05-10T11:09:41","guid":{"rendered":"https:\/\/www.pehub.com\/?p=201313"},"modified":"2013-05-10T07:09:41","modified_gmt":"2013-05-10T11:09:41","slug":"tpg-sells-stake-in-indias-shriram-transport-for-300-mln","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/657239","title":{"rendered":"TPG Sells Stake in India\u2019s Shriram Transport for $300 Mln"},"content":{"rendered":"

U.S. private equity firm TPG Capital<\/strong> raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd<\/strong> to India’s Piramal Group<\/strong>, generating a near seven times return on a 2006 investment, Reuters is reporting. <\/p>\n

(Reuters) – U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India’s Piramal Group, generating a near seven times return on a 2006 investment.<\/p>\n

Piramal Enterprises said it bought a 10 percent stake in Shriram Transport through a block deal for about 16.52 billion Indian rupees ($305.21 million), or 723 per share.<\/p>\n

Ajay Piramal, chairman of Piramal Enterprises, told reporters the stake was bought from TPG.<\/p>\n

TPG, which manages about $55 billion globally, invested a little more than $100 million in Shriram Transport’s parent company, Shriram Group, in 2005. A year later it took a 20 percent stake in Shriram Transport against its investment in Shriram Group, valued at 113 rupees per share, according to a source with direct knowledge of the matter.<\/p>\n

TPG declined to comment.<\/p>\n

In February, TPG sold half its stake in Shriram Transport to a clutch of institutional investors and raised about $305 million.<\/p>\n

Piramal is primarily engaged in the pharmaceutical industry and has interests in financial services and manages a property fund.<\/p>\n

Shares in Shriram Transport were up as much as 5.7 percent, to 776.50 rupees, after the deal.<\/p>\n

UBS advised Piramal on the deal.<\/p>\n

The post TPG Sells Stake in India’s Shriram Transport for $300 Mln<\/a> appeared first on peHUB<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India’s Piramal Group, generating a near seven times return on a 2006 investment, Reuters is reporting. (Reuters) – U.S. private equity firm TPG Capital raised about $300 […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-657239","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=657239"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/657239\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=657239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=657239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=657239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}