Published On:February 27 2020
Story Viewed 90 Times

PE firm Warburg Pincus planning to invest $150 mn in Apollo Tyres.

Private Equity firm Warburg Pincus is planning to invest around $150 million in Apollo Tyres.The investment represents a primary capital infusion into the company and is subject to shareholder and regulatory approvals.

The Board of Directors of Apollo Tyres Ltd. recently approved an issuance of compulsorily convertible preference shares in the company worth approximately $150 million to an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing.

Onkar S Kanwar, Chairman and Managing Director, Apollo Tyres Ltd. said, that Warburg Pincus’ investment in Apollo Tyres is a strong vote of confidence in our business, management team and growth prospects.

"I believe the company will benefit from the backing of a large financial investor of their pedigree and our partnership will further strengthen Apollo Tyres’ board and governance,” he said.

Vishal Mahadevia, Managing Director and Head, Warburg Pincus India, said, “We see a compelling growth story in Apollo Tyres and believe the company is well-positioned to build upon the strong leadership position it has carved out within the industry. Warburg Pincus is excited to partner with the management team of Apollo Tyres in this journey and looks forward to supporting them during the next phase of the company’s growth.”

BS





OUR OTHER PRODUCTS & SERVICES: Projects Database | Tenders Database | About Us | Contact Us | Terms of Use | Advertise with Us | Privacy Policy | Disclaimer | Feedback

This site is best viewed with a resolution of 1024x768 (or higher) and supports Microsoft Internet Explorer 4.0 (or higher)
Copyright © 2016-2020

Technology Partner  aaRKayeN Solutions