Blackstone is purchasing a 15% to 16% stake in International Tractors (ITL), a tractor manufacturer in India, AltAssets reports. The transaction, which could be worth nearly $131 million, will bring the total value of the company to approximately $875 million. Blackstone expects to buy shares owned by investor JM Financial. Citi Venture Capital International and 3i are some of the past and existing ITL investors. North India-based ITL manufactures small and medium-sized tractors exported to various countries, including South Africa, Australia and Zimbabwe.
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