Carlyle Group (CG) said Thursday that it has acquired a controlling stake in Highway Industries and Roop Automotives, combining the Indian companies into a global auto components platform.
The company did not disclose the financial terms but said equity for the investment will come from Carlyle Asia Partners-affiliated investment funds. Carlyle Group also said it plans to add "synergistic assets" to the platform.
Highway and Roop founders will continued to own stakes in the platform, Carlyle Group added.
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