MUMBAI Feb 20 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