Tower firm Tata-Quippo is once again considering offloading a 10% stake to a strategic investor for around US$300m.
Lazard is understood to be advising Quippo on the sale.
Private equity heavyweights Apollo Management, Apax Partners, General Atlantic and…
Tower firm Tata-Quippo is once again considering offloading a 10% stake to a strategic investor for around US$300m.
Lazard is understood to be advising Quippo on the sale.
Private equity heavyweights Apollo Management, Apax Partners, General Atlantic and the Carlyle Group are all thought to be looking at the stake.
Managing Director Sunil Kanoria is cited in local media saying that a deal will be sealed within the next two months.
The firm plans to use the funds to help pay off part of its debt burden, raised from IDFC last year.
Tata-Quippo is the offspring of a merger between the tower arm of the Tata Group and Quippo Telecom Infrastructure.
Tata holds 54% in Tata-Quippo while Quippo Telecom, GIC Singapore, IDFC Private Equity and Oman Investment Fund jointly hold the remaining 46%.