| Blackstone to invest $65 mn in MTAR |
| BS Reporter / Mumbai November 8, 2007 |
| The Blackstone Group today announced an investment of $65 million in Hyderabad- based precision engineering company MTAR Technologies. The investment is subject to regulatory approvals. Under the terms of the transaction, the funding will be a mix of primary and secondary equity. The existing promoters of the company will continue to lead the company, Blackstone Group said in a release here today. First Securities was the advisor for the transaction. MTAR manufactures machine parts for nuclear power reactors, and engine and structural components for aerospace and defence applications. The company has organisations like Nuclear Power Corporation of India (NPCIL), Indian Space Research Organisation (ISRO) and Hindustan Aeronautics (HAL) as clients. Akhil Gupta, chairman, Blackstone Advisors India, said: |
