U.S. Blackstone to buy $300 mln stake in Sona, merge it with Comstar

11/23/2018 9:13:00 AM (GMT)

U.S. private equity firm Blackstone plans to combine its Indian automotive components manufacturing firm Comstar Automotive with peer Sona BLW.

Blackstone is holding discussions to purchase a stake in Sona BLW Precision Forgings and the firm will buy all of the 32 percent stake held by JM Financials for about $300 million.

Blackstone intends to enlarge its business in auto parts space by combining Comstar Automotive with Sona BLW. The transaction is awaiting the competition commission of India clearance.

In April this year, Blackstone acquired a controlling stake in Comstar Automotive Technology for $141.4 million.

Blackstone Group LP.

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