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You are here: Home1 / News2 / Company News3 / Warburg Pincus acquires first tranche of Apollo Tyres shares

Warburg Pincus acquires first tranche of Apollo Tyres shares

Date: 23rd April 2020 Author: Stephen Goodchild Comments: 0

Warburg Pincus is now a shareholder in Apollo Tyres Ltd. During a meeting yesterday, the tyre maker’s Committee of Directors – Private Placement allocated Emerald Sage Investment Ltd., an affiliate of the private equity firm, 54,000,000 compulsorily convertible preference shares. Emerald Sage paid a total of Rs s. 5,400,000,000 (£57.56 million) for the shares in this first tranche transaction, or Rs 100 each. The balance of the transaction – 54,000,000 second tranche compulsorily convertible preference shares, each worth Rs 100 – will be alloted on or before 7 October 2020.

With yesterday’s allotment, the cumulative fully diluted ownership of affiliates of private equity funds managed by Warburg Pincus LLC on a converted basis, including the Allottee, is approximately 13.7 per cent. Following the allocation of the second tranche shares, this will increase to approximately 18 per cent.

Related news:

  1. Warburg Pincus investing £117 million in Apollo Tyres
  2. India’s competition authority approves Warburg Pincus’ investment in Apollo Tyres
  3. Apollo Tyres approves £105 million NCB issue
  4. Court dismisses Cooper appeal
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acquisition, Apollo, Apollo Tyres, Emerald Sage Investment, shares, stocks, stocks & shares, Warburg Pincus

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