Blackstone Group to Sell Stake in Sonalika Tractors to Yanmar for US$250 Million (Asia)

Source: Mint  |  Author(s): Reghu Balakrishnan, Swaraj Singh Dhanjal

The Blackstone Group has agreed to sell its 17.75 percent stake in India-based International Tractors, the owner of the Sonalika farm equipment brand, to Japan-based agricultural machinery and industrial engineering group Yanmar for INR17 billion (approximately US$250 million). Blackstone originally invested in the company in 2012 through Blackstone Capital Partners VI.