The Economic Times 3 September 2012
MUMBAI: TPG, the private equity with $51 billion in investments across the globe, could sell its 20 per cent stake in Shriram Transport Finance Corp (STFC) valued at nearly Rs 2,800 crore in negotiated deals as a strategic buyer remains elusive in a depressed market.
The US fund, which has been looking to sell its stake for more than a year, will end up with a 20 per cent stake in the listed entity after the merger of other unlisted group company Shriram Transport Finance Holding Ltd.
“Getting a strategic partner for 20 per cent holding is difficult. So, they may do a combination of both open market and strategic (dealing),” Umesh Revankar, MD and CEO, Shriram Transport Finance, told ET in an interview.