Blackstone Buys Stake in Indian Tractor Maker (Asia)

Source: The Economic Times

The Blackstone Group has agreed to buy a 12.5 percent stake in International Tractors Limited (ITL), an Indian manufacturer of tractors, for up to INR5.2 billion (approximately US$100 million). The investment will be made from the Blackstone Capital Partners (Singapore) VI fund. ITL plans to use the funding to expand its operations both domestically and internationally.