Amtek Global Technologies (AGT), a subsidiary of leading forging, casting and machining company, Amtek Auto, signed an agreement with leading global investment firm, KKR, under which, KKR will provide AGT with 235 million euros (around Rs 1,800 crore) long-term, flexible financing to replace its existing bridge loan and consolidate the company’s existing debt.
A joint statement said the facility will also act as a catalyst to help integrate Amtek Auto’s existing international operations under the Singapore-headquartered AGT.
Details of the transaction were not disclosed.
“The flexibility it provides enables us to further scale our manufacturing platform and advance our global growth strategy to the benefit of our worldwide blue-chip customers and stakeholders,’’ Kunal Sabharwal, CEO of AGT said in a statement.
“This financing is the beginning of a long-term partnership with KKR that will enable us to continue to develop new and exciting opportunities in the automotive components market.’’
