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Blackstone May Quit Auto Parts JV Sona Comstar

Blackstone May Quit Auto Parts JV Sona Comstar

Submitted by • June 28, 2020

NEW DELHI: Global private equity fund Blackstone may stop its recently set up auto parts joint venture(Jv), Sona Comstar inside the following two years.

"It hangs tight for an opportunity to stop the business through an underlying public offering(IPO). This will be going to occur in the coming years", said by Sunjay Kapur, executive, Sona Comstar.

Couple days back Blackstone finished the securing of a 33% stake in Kapur-drove Sona BLW and teamed up the vehicle leaves Comstar Car Innovation Ltd, the other auxiliary claimed by the PE firm in India. The JV gives items to ordinary, half and half and electric vehicles-centered innovation stages.

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