TPG sells Shriram City Union Finance stake to Apax
TPG Capital has sold its 20.37% stake in Indian non-banking finance company Shriram City Union Finance (SCUF) to Apax Partners. Based on the May 12 closing price of INR1,719, it was worth around INR23 billion ($360 million).
Regulatory filings indicated that TPG sold 13.4 million shares in SCUF to Apax-owned Dynasty Acquisition. SCUF's shares gained nearly 4.5% on May 13 to close at INR1,796. This represents a full exit...
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