An affiliate of private equity firm Warburg Pincus will buy an about 43 percent stake in Indian engineering outsourcing provider Tata Technologies Ltd for $360 million.

Warburg will buy an about 30 percent stake from Tata Motors and its subsidiary, Sheba Properties Ltd, and another 13 percent held by Tata Capital in Tata Technologies, Tata Motors said in a statement on Thursday.

Tata Motors and affiliates of Tata Group will continue to own about 43 percent of Tata Technologies, while the company’s management team and other shareholders will own the remainder, it added.

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