German carmaker Daimler is selling up to $429 million worth of shares in Tata Motors at a discount of up to 7 percent to the stock's Monday closing price, sources familiar with the matter said. Daimler is offering 25.6 million shares in Tata Motors at Rs 737.4 to 761.3 each, a discount of 4 to 7 percent below the stock's Monday close of Rs 796.75. The shares represent a 5.34 percent stake in the firm. Citigroup is handling the share sale.
Tata Motors should hit 740 by tomorrow :) cheers…
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