| Private equity firm Bain Capital and Singapore’s sovereign wealth fund GIC have picked direct equity stake in public-listed company Hero MotoCorp, the world’s largest bike-maker in terms of volumes. This follows closure of a transaction announced last year where one of the promoter group entities merged with the bike maker.
The two financial investors held 28.37 per cent stake in promoter group holding entity, Hero Investments Pvt Ltd (HIPL), which has been merged with the listed group flagship of the Munjal family. Bain Capital owned 19.81 per cent while GIC held 8.56 per cent in HIPL; the rest was owned by the Munjals. HIPL, in turn, owned 43.33 per cent in Hero MotoCorp. Bain Capital has picked 8.58 per cent in Hero MotoCorp while GIC now holds 3.71 per cent in the bike maker...............................................Full Article: Source
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