US private equity (PE) giant Blackstone is learnt to be close to picking up a 25-30% stake in Hyderabad-based nuclear and space science components company MTAR Technologies for around Rs 300 crore. If the deal goes through, it will possibly be the first PE investment in the defence and nuclear space in India.
The privately-held MTAR makes critical components and products for nuclear reactors. The transaction, which comes in the backdrop of the Indo-US nuclear deal, is taking place in a company which was subject to US sanctions following India’s nuclear tests of 1998.
MTAR is believed to have high profit margins and it is said that PE major Carlyle too was interested.
(Source: Economic Times)
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