Tata Motors to sell stake in unit to TPG fund, endowment trust at $2b valuation

Tata Motors to sell stake in unit to TPG fund, endowment trust at $2b valuation

FILE PHOTO: A Tata Motors logo is pictured outside the company showroom in Mumbai, India February 5, 2018. REUTERS/Danish Siddiqui/File Photo

India’s Tata Motors on Friday said it will sell a 9.9% stake in Tata Technologies to U.S. private equity firm TPG and an endowment trust belonging to Tata Trusts Chairman Ratan Tata in a deal that values the unit at nearly $2 billion.