Daimler in $414 Million Block Trade of Shares in Tata Motors

Cleary Gottlieb represented Citigroup Global Markets India Private Limited in its capacity as broker in the sale by Daimler of shares in Tata Motors.

Under the terms of the transaction, Daimler sold a total of 25,596,476 Tata shares for an aggregate price of approximately $414 million on the Stock Exchange of India and the Bombay Stock Exchange. The transaction closed on March 11.

Founded in 1945, Tata is India’s largest automobile manufacturer. Tata’s ADRs are listed on the New York Stock Exchange. Amarchand & Mangaldas & Suresh A. Shroff & Co. acted as Indian counsel to Citigroup. AZB & Partners acted as legal advisors to Daimler.