New Delhi
As part of the current transaction Blackstone has purchased JM Financial’s 33 per cent stake in Sona BLW and further invested primary capital to combine it with Comstar, creating the new platform, Sona Comstar. Blackstone had in 2018 acquired Comstar.
Kapur, Chairman of the new entity and the Sona Group, noted that in the ongoing financial year the company would mostly invest in making differential auto components in the electric vehicle segment. Comstar designs and manufactures starting and charging systems for passenger and light commercial vehicles.
“This year we are investing in our differential business for EVs and our hybrid for Comstar for our electric motor business. We are investing for next year and we will grow our EV business.”
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