Blackstone, one of the world’s largest private equity firm is all set to pick up 98% stake in Igarashi Motors’ parent firm Agile Electric and that in turn will give them a 58% stake in Igarashi Motors. Blackstone will take over the parent firm along with its unit for Rs 660 crore. The transaction will also trigger an open offer for an additional 26% stake in the company.
Igarashi Motors is engaged in developing and manufacturing small DC motors for more than fifty years and have done pioneering work in product development, improvement and testing for the creation of new manufacturing technologies, while Chennai headquartered auto components company Agile Electric is the largest manufacturer of DC motors for the automotive industry.
