Tata Steel interested in acquiring Vizag-based RINL: CEO T V Narendran


Homegrown auto main Tata Motors on Tuesday stated it should increase USD 1 billion (Rs 7,500 crore) in its passenger electrical car enterprise at a valuation of as much as USD 9.1 billion from TPG Rise Climate.

Tata Motors Ltd (TML) and TPG Rise Climate have entered right into a binding settlement beneath which TPG Rise Climate together with its co-investor ADQ, will put money into a subsidiary of Tata Motors that will likely be newly integrated, the corporate stated in an announcement.

TPG Rise Climate together with co-investors shall make investments Rs 7,500 crore in obligatory convertible devices to safe between 11-15 per cent stake on this firm translating to an fairness valuation of as much as USD 9.1 billion, it added.

(PTI)




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