TPG selling Shriram shares worth $300 mln - term sheet
MUMBAI Feb 20 (Reuters) - U.S. private equity firm TPG Capital is to sell part of its stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to raise about $300 million, according to a term sheet seen by Reuters.
TPG, which owns about 20 percent of Shriram Transport, is selling the shares for 715 rupees to 755.95 rupees, a discount of up to 5.4 percent on Wednesday's closing price, the term sheet - an outline agreement - showed on Wednesday.
While TPG's stake in Shriram Transport will fall to about 10 percent on the planned stake sale, it may sell a larger stake, the term sheet said without giving detail.
Goldman Sachs is the bookrunner for the deal, it said.
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