PETALING JAYA: Global engineering research and development services company Hinduja Tech Ltd, a subsidiary of Ashok Leyland, the Indian flagship of the multi-billion dollar conglomerate the Hinduja Group, has signed a definitive agreement for Creador to invest US$50mil, acquiring 19.6% shareholding in the company.

This, Hinduja Tech said in a statement, is subject to completion of customary closing conditions.

“Creador is a renowned private equity firm focused on partnering to grow world-class businesses in South-East Asia and India. This investment places Hinduja Tech at a post-money equity value of US$255mil.”