AZB, SAM turn wheels on Warburg’s $150m Apollo Tyres investment

Gurugram-based Apollo Tyres on Wednesday said global private equity firm Warburg Pincus will invest $150 million in the company. The board of Apollo Tyres has approved issuance of compulsorily convertible preference shares worth Rs 10,800 million (about $150 million) to an affiliate of Warburg Pincus.

— The Economic Times

Shares of Apollo Tyres fell more than 5 percent intraday on February 26 despite an investment made by a Warburg Pincus-owned company.

— Moneycontrol

Shardul Amarchand Mangaldas & Co advised Apollo Tyres Ltd. led by a team of The SAM & Co. transaction team was led by managing partner, Akshay Chudasama and partner, Ashni Roy and comprised of associatePrinciple, senior associateDavis Kanjamala, senior associateNeha Shaw, Akansha Singh and associate, Anushree Pathak. partner, Yogesh Chande and senior associate, Kanwardeep Kapany assisted on the securities law aspects of the transaction, partner, Abhay Sharma and senior associate, Priyanka Jain assisted on the tax aspects of the transaction and partner, Gauri Chhabra and associate, Sagarika Parab assisted on the competition law aspects of the transaction.

AZB & Partners advised Emerald Sage Investment Ltd, an affiliate of Warburg Pincus LLC led by a team of partnersAnil Kasturi and Ashish Pareek.

Deal value: Approx. USD 150 Million

2020-02-27

Click to show comments
at your own risk
(alt+c)

By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click ‘Report to LI’ below the comment and we will review it as soon as practicable.