Exim bank and SBI may pick up stake in Ucal's US arm
Exim Bank of India and State Bank of India (SBI) are looking to invest in the equity and debt of AMTEC Precision Products of the US, which has been acquired by Ucal Fuel Systems. Exim Bank is expected to buy 20 per cent stake for US$4.4 million. It will have the option to exit after five years. SBI will take the entire US$16- million debt of AMTEC Precision Products through its New York bank against a corporate guarantee given by Ucal Fuel Systems. Source: Asia Intelligence Wire
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