💨 Abstract

The U.S.-based investment firm Carlyle Group has purchased a controlling stake in a merged entity of Indian auto parts companies, Highway Industries and Roop Automotives, for about $400 million. The investment will come from funds affiliated with Carlyle Asia Partners. Highway Industries manufactures powertrain parts, while Roop Automotives produces steering yokes for export. The founders of both companies will retain stakes in the merged platform.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖