Global Town Investment Limited has acquired 24.5%stake in Moser Baer India Limited from PE fund Warburg Pincus in an off-market transfer deal. Not much information is available about Global Town Investment.
Warburg Pincus had invested in Moser Baer through Bloom Investments, Ealing Investments, Woodgreen Investment, ELM International Ltd and Randall Investments Ltd.
According to the filing on BSE, Global Town Investment Ltd acquired 100% the equity share capital of each of Bloom Investments (5.7%), Ealing Investments (5.7%) and Woodgreen Investment (13.10%) from Warburg Pincus International Partners, Warburg Pincus Equity Partners and their affiliate funds.
The deal resulted in indirect acquisition of 24.5% stake (4.12Cr shares) in Moser Baer by Global Town Investment. With this deal, Warburg Pincus holding has come down to 9.05% in the company.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.