Autoline unit acquires stake in Italian co

Newswire

MUMBAI, Sept 25 (Reuters) - Autoline Industries Ltd said on Thursday its Cyprus unit, Koderat, has acquired a 49 percent stake in Italy-based automobile design firm SZ Design Srl and Zagato S.r.l for an undisclosed sum. Koderat has also entered into a deal with Icon Development SA, under which it will have the right to raise its stake in the firms to 60 percent in three years, Autoline said in statement. (Reporting by Bharghavi Nagaraju; Editing by Prem Udayabhanu)

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