Private equity firm to acquire $150 million stake in Apollo

摘要

An affiliate of global private equity firm Warburg Pincus LLC plans to acquire a $150 million stake in Apollo Tyres Ltd. In late February, Apollo's board of directors approved a transaction that will issue compulso-rily convertible preference shares in the company to the affiliate. The investment represents a primary capital infusion into Apollo and is subject to shareholder and regulatory approvals.