Blackstone pays $100m for minority stake in International Tractors
The Blackstone Group has committed $100 million for a 12.5% stake in India's International Tractors (ITL). The capital will be used to expand production and pursue overseas acquisitions.
Blackstone will invest in two tranches, L.D. Mittal, chairman of ITL, told Livemint. "In the first tranche, INR2 billion will come to us on an immediate basis and the rest of the money will come at a later...
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