According to reports, the US private equity giant Blackstone Group will invest US$110 million to acquire a majority stake in Agile Electric Works, a manufacturer of automotive parts in India.

It is reported that Agile Electric will sell its 98% equity to Blackstone Group for US$110 million, and the latter will also acquire a 58% stake in Igarashi Motors India, a listed subsidiary of Agile Electric. The above transaction was completed on July 17.

Agile Electric is a manufacturer of automotive DC motors and maintains close cooperation with Delphi, Bosch , Ford and Continental Group. The company has eight production plants in Chennai, India, and 90% of its sales come from exports to the United States, Europe and Asia.

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