Sources indicate that country's largest motorcycle maker Hero Group has selected US private equity firm Bain Capital and the Government of Singapore Investment Corp (GIC) combined to sell 12% stake in the company. This stake sale would be a premium to what was bought from Honda.
CNBC-TV18's Seema Mody learns that the term sheet with Bain and GIC for the sale will be inked soon. This will aid in securing bridge loan from Deutsche Bank. Hero would use this loan to buy 26% stake from Honda, under the RoFR agreement, sources say.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
