Motors Limited (TML) has entered into share purchase agreements to sell 9.9%
stake in Tata Technologies Ltd (TTL)for an aggregate consideration of Rs 1,613.7
crore. TPG Rise Climate is the lead investor for this transaction, which ascribes
an equity valuation of Rs 16,300 crore (US $ 2.0billion) for TTL.
a subsidiary of TML, is a leading global engineering services company offering
product development and digital solutions to global original equipment
manufacturers. TTL has deep domain expertise in the automotive industry and leverages
this expertise to serve clients in adjacent industries, such as in aerospace, transportation
and construction heavy machinery. TTL’s deep manufacturing domain knowledge and
globally distributed service delivery capability helps it deliver value-added services
to its clients.
Rise Climate is the dedicated climate investing arm of TPG’s $18 billion global
impact investing platform. The fund focuses on five climate sub-sectors: energy
transition, green mobility, sustainable fuels, sustainable molecules, and carbon
transaction furthers TML’s de-leveraging agenda and is expected to close in the
next two weeks on completion of customary closing procedures.
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