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Blackstone sells stake in Indian auto parts maker to consortium

Stephen A. Schwarzman, Chairman and Chief Executive Officer of The Blackstone Group in New York February 27, 2014. REUTERS/Brendan McDermid

(Reuters) - A fund run by U.S. private equity firm Blackstone Group (BX.N) has sold its 97.9 percent stake in Indian auto components maker Agile Electric Sub Assembly to a group of buyers, including Japan's Igarashi Electric Works, for an undisclosed amount.

The other buyers are Indian investment bank MAPE Securities and two funds run by financial firm Tata Capital, according to a statement from Tata Capital.


(Reporting by Karen Rebelo in Mumbai; Editing by Subhranshu Sahu)