This would be TPG's first deal in India, which has just raised $30 billion globally in fresh funds.
Global buyout giant Texas Pacific Group is picking up a 49% stake in Shriram Retail Holdings Pvt Ltd for $120 million (Rs 530 Crores). TPG would also make an open offer for Shriram Retail, which is part of the Chennai-based Shriram Group. The investment is subject to approval of the FIPB and other regulatory agencies. This would be TPG's biggest deal in India, which has just raised $30 billion globally in fresh funds. Also TPG will indirectly hold 26.7% stake in Shriram City Union Finance excluding the shares in the open offer. The investment has been done through TPG India Investments I, Inc. In 2005, Newbridge Capital had invested invest $100 million (around Rs 450 crore) in the three companies of Shriram group - Shriram Investments, Shriram Transport Finance Company and Shriram Overseas Finance. Later Newbridge was merged with TPG's Asia operations. Also earlier this year Shriram City Union had raised Rs 400 crore Bessemer Venture Partners, ICICI Venture and ChrysCapital. TPG was advised by DSP Merrill Lynch Limited and J. Sagar Associates and the Shriram Group was advised by Kanga & Co. http://www.vccircle.com/500/news/texas-pacific-to-invest-120-million-in-shriram-retail-for-49-stake A likely impossibility is always preferable to an unconvincing possibility. - Aristotle --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
