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Private Equity | 13 April 2012

Asia Motor Works To Raise $100Mn For Expansion

by Charmi Gutka
Asia Motor Works To Raise $100Mn For Expansion
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Asia Motor Works Limited is planning to raise $100 Mn for expansion through a mix of debt and equity.

According to ET, the funds will enable the company to build capacity to make new cabs, next generation trucks and expand manufacturing. The truck maker proposes to produce cabins locally, which were so far imported and assembled.

Asia Motor Works has recently acquired FamilyCredit Limited in an all cash deal. FamilyCredit was a wholly-owned subsidiary of Societe Generale Consumer Finance, a division of the Specialised Financial Services of Societe Generale Group, France. It offers auto loans, two wheeler loans and loyalty loans.

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