The New Delhi-based company has been seeking bidders for its German unit Amtek Tekfor Holding GmbH since last year. Mumbai: Amtek Auto Ltd, the cash-strapped Indian car-parts maker, has expanded its planned asset sale to include additional overseas businesses as it looks to reduce leverage, people familiar with the matter said. Amtek shortlisted two potential suitors for Tekfor and expects the sale to close in the next few months, according to the investor presentation. Amtek would also be open to selling stakes in its overseas units should it fail to get attractive offers for the entire operations, the people said. Representatives for Amtek and Morgan Stanley didn’t respond to requests for comment, while Rothschild declined to comment in an e-mailed statement.

Source: Mint July 25, 2016 10:52 UTC