Blackstone exits India's Agile Electric for $106m
The Blackstone Group has agreed to sell its entire stake in Indian auto parts maker Agile Electric Sub Assembly to Japan's Igarashi Electric Works (IEW), and Indian boutique investment bank MAPE Advisory Group, in a $106.4 million deal.
The exit - which is expected to generate a 2x return - comes around 18 months after Blackstone paid HBL Power Systems, and other individual shareholders, $55 million for a 97.9% stake in the Agile Electric. ...
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