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Bain Capital looks to sell $393m stake in India’s Hero MotoCorp

13 Jun 2014

heroPrivate equity firm Bain Capital is reportedly set to sell a stake worth up to $393m in Indian motorcycles and scooters maker Hero MotoCorp.

Bain plans to sell up to half of its 8.6 per cent interest in open market deals today, according to a term sheet seen by Reuters.

The firm has set the indicative price range at between 2,582 rupees and 2,717 rupees, which represents a discount of up to five per cent from Thursday’s closing price.

Another company backed by Bain, latex and rubber maker Trinseo, is looking to raise up to $190m via an IPO.

It recently priced its shares at between $17 and $19 each.

Recent private equity deals in India include the acquisition a 50 per cent stake in home shopping business STAR CJ Network India by Providence Equity Partners.

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