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Private Equity | 30 October 2012

Warburg Pincus To Exit Alliance Tire Group: Carlyle, Bain and Blackstone Sounded

by Paritosh Gajjar
Warburg Pincus To Exit Alliance Tire Group: Carlyle, Bain and Blackstone Sounded
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Global PE major Warburg Pincus decided to exit its five year old investment in Alliance Tire Group and large buyout funds like Carlyle, Bain and Blackstone have been approached to buy its stake, ET stated.

Warburg appointed Credit Suisse to find buyers for its 70% stake. The rest 30% lies with the promoter group, Mahansaria family.

Warburg had invested $150 Mn in the company in 2007 to fund the acquisition of Isreali company, Alliance Tire Company and the subsequent development of a Greenfield low-cost manufacturing facility in India.

Toshiba Forms JV With Johnson Lifts

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Deutsche Securities sells Jubilant Life Sciences' shares for INR122 crore

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Deutsche Securities Mauritius Limited has sold its 1.95 percent stake in Jubilant Life Sciences Limited, a global life sciences and pharmaceutical company, for just over INR122 crore. The sale of the stake was performed as an open market transaction, and purchased by Citigroup Global Markets Mauritius Pvt. Ltd.

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