Deals
Tata Is Boosting Carmaker Stake in $312 Million Deal, Source Says
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Tata Sons Ltd. is buying as much as 20 billion rupees ($311 million) of Tata Motors Ltd. shares, as India’s biggest conglomerate seeks greater control of the Jaguar Land Rover owner, a person with knowledge of the matter said.
Tata Sons is the undisclosed purchaser seeking to buy stock equivalent to 1.7 percent of the company in a deal launched Monday evening, said the person, who asked not to be identified because the details are private. The investor was offering to purchase Tata Motors shares for as much as 421.56 rupees apiece, according to terms for the deal obtained by Bloomberg.