Buyout firms chase Warburg’s Alliance Tire stake - report
Private equity investors are said to be eying Alliance Tire Group after Warburg Pincus put a 70% stake in the Indian tire manufacturer on the block. Should the transaction go through, the price is likely to exceed $500 million, making it one of India’s largest ever PE deals.
According to the Financial Times, bidders include Advent International, The Blackstone Group, KKR and Temasek Holdings. Bain Capital and The Carlyle Group, meanwhile, dropped out as the asking price rose....
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