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Blackstone To Buy $131M ITL Stake
Blackstone is purchasing a 15% to 16% stake in International Tractors a tractor manufacturer in India.
Blackstoneis purchasing a 15% to 16% stake inInternational Tractors(ITL), a tractor manufacturer in India,AltAssetsreports. The transaction, which could be worth nearly $131 million, will bring the total value of the company to approximately $875 million.
Blackstone expects to buy shares owned by investorJM Financial.Citi Venture Capital Internationaland3iare some of the past and existing ITL investors. North India-based ITL manufactures small and medium-sized tractors exported to various countries, including South Africa, Australia and Zimbabwe.
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