Bain, GIC assist in Hero Honda buyout
Months after negotiations began between Japan’s Honda Group and India’s Hero Group to enact a strategy for Honda to exit the Hero Honda JV, Hero Group has officially bought out Honda’s 26% stake in the company, with private equity players Bain Capital and the Government of Singapore Investment Corp. (GIC) committing an undisclosed amount to facilitate the deal.
The 26% stake reportedly sold for approximately $851 million, or INR739.97 ($16.16) per share - a nearly 50% discount to Hero Honda's Tuesday trading price of INR1,518.15 ($33.16) per share. According...
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