TPG Sells Stake in India’s Shriram Transport Finance (Asia)

Source: Reuters  |  Author: P.M. Indulal

Global private investment firm TPG has sold its 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Company to Indian conglomerate Piramal Enterprises for INR16.52 billion (approximately US$305.5 million). Piramal bought the stake through a block deal on the Bombay Stock Exchange and the sale completes TPG’s exit from the company. TPG originally invested in the company in 2006, having previously invested in its parent company, Shriram Group, in 2005.