This ad will auto close in 10 seconds

Bain to sell stake in Hero MotoCorp worth up to $393 mn

Reuters | Last Updated: Thursday, June 12, 2014 - 19:52

Mumbai: US private equity firm Bain Capital Partners LLC will sell its equity stake worth up to USD 393 million in Hero MotoCorp Ltd , India`s largest maker of motorcycles and scooters, according to a deal term sheet seen by Reuters.

Bain Capital, which holds a 8.6 percent stake in Hero MotoCorp through its unit BC India Pvt Investors, will sell up to half of its shares in open market transactions on Friday, the term sheet for the deal showed.

The private equity firm is offering the Indian company`s shares in the indicative price band of 2,582 rupees to 2,717 rupees each, it said, a discount of as much as 5 percent from its closing price on Thursday.

First Published: Thursday, June 12, 2014 - 19:51
comments powered by Disqus