Having acquired Chennai-based auto parts maker Comstar Automotive Technologies Private Limited for $150 million in April this year, New York-based Blackstone Group L.P. is set to invest in Gurugram-headquartered auto components maker Sona BLW Precision Forgings Limited.
Blackstone will initially invest a minority stake, and will later increase its shareholding in the company to 67 percent for $300 million. The two-tiered transaction will bring Comstar under Sona.
Sona BLW Precision Forgings is engaged in the manufacture of precision forged bevel gears, differential case assemblies and synchronizer rings for automotive and other applications. It operates two plants, in Gurugram and in Pune.
