Debt revamp to keep Amtek Auto in focus

Amtek Auto, in a post-market hours disclosure, said that it has appointed Morgan Stanley as advisors to assist in the group’s debt reduction plan. The options include minority stake sale of 25-40 per cent in some of its overseas businesses. Amtek claims it has received enquires for outright purchase of a couple of its overseas arms, including Tekfor group. Analysts will track the developments as the company says it is looking for the “right value-opportunity”.