UPDATE 1-Autoline unit acquires stake in Italian co

Newswire

(Adds details) 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 9 million euros. 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. Autoline would raise debt to fund the acquisition, the firm said. The ...

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