Blackstone, one of the world's largest private equity firms, finalised th deal on Wednesday. The company will pick up 98% of the parent and that in turn will give them a 58% stake in Igarashi Motors, news report suggests.
The transaction will also trigger an open offer for an additional 26% stake in the company.
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Chennai headquartered auto components company Agile Electric is the largest manufacturer of DC motors for the automotive industry.
At 1:50pm, Igarashi Motors was up 5.2% to Rs 63 on the BSE. The stock opened at Rs 66.20 and which is also its intra-day high.