Tata Motors Ltd and Warburg Pincus Llc have mutually agreed to call off the US private equity firm’s proposed investment of around $360 million in Tata Technologies Ltd, Tata Motors said in a stock exchange filing on Monday.
“Due to delays in securing regulatory approvals as well as due to the recent performance of the company not meeting internal thresholds because of market challenges, the parties to the transaction have mutually decided not to proceed with the closure of the transaction,” Tata Motors said in its statement to the stock exchange.
