KKR pays $500m for Warburg's Alliance Tire Group stake
KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well as assuming around $125 million in debt.
Warburg Pincus took a 70% interest in Alliance in 2007 as part of a $150 million buyout with Yogesh Mahansaria, former CEO of India's Balkrishna Tyres. Mahansaria will retain partial ownership and work...
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