April 13, 2018 / 3:59 AM / 7 days ago

Australia's AMA Group to sell vehicle panel repair business to Blackstone for $394.9 mln

April 13 (Reuters) - AMA Group said on Friday it would demerge its automotive component, accessory and procurement business and separately sell its vehicle panel repair business to funds advised by buyout firm Blackstone Group for an enterprise value of A$508 million ($394.92 million).

The AMA Group board unanimously recommended shareholders vote in favour of both transactions, it said in a statement.

$1 = 1.2863 Australian dollars Reporting By Rushil Dutta in Bengaluru

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