Shriram Trans stake sold for $561 mn?

Temasek Holdings is in talks to buy a part of TPG Capital's Shriram Transport Finance Co.

Singapore state investor Temasek Holdings is in talks to buy a part of US private equity firm TPG Capital’s holding in Indian commercial vehicle lender Shriram Transport Finance Co in a deal valued at 25 billion rupees ($561 million).

TPG,which owns 20 percent in Shriram Transport,plans to offload a significant minority stake in the non-banking finance company and has appointed Credit Suisse to advise it on the sale,the newspaper said,citing people familiar with the development.

A spokeswoman at Temasek declined to comment on the Shriram Transport stake sale by TPG Capital. Officials at TPG and Shriram Transport could not immediately be reached.

Temasek may be eyeing a 10 percent to 14 percent stake in Shriram Transport. ($1=44.6 rupees)

Nepal’s Home Minister Ramesh Lekhak resigns after 19 killed in ‘Gen Z’ protests

World2 hr ago

Nepal's Home Minister Ramesh Lekhak has resigned after 19 people died during youth-led protests demanding reforms and accountability. The protests spread across major cities and police opened fire on demonstrators. Lekhak tendered his resignation to Prime Minister KP Sharma Oli during a Cabinet meeting, following calls from Nepali Congress leaders earlier in the day.

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