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Bloomberg
Tata Sons Ltd. is buying as much as $312 million of Tata Motors Ltd. shares, as India’s biggest conglomerate seeks greater control of the Jaguar Land Rover owner, a person with knowledge of the matter said.
Tata Sons is the undisclosed purchaser seeking to buy stock equivalent to 1.7 percent of the company in a deal launched, said the person, who asked not to be identified because the details are private. The investor was offering to purchase Tata Motors shares for as much as 421.56 rupees apiece, according to Bloomberg.
Tata Motors rose as much as 5 percent on Tuesday trading, the biggest intraday gain since July.