UK's Rosebank Industries raises $1.55 billion for US-based ECI's acquisition

(Reuters) -British investment firm Rosebank Industries on Friday said it will raise about 1.14 billion pounds ($1.55 billion) to finance the acquisition of U.S.-based Electrical Components International.

Rosebank, which focuses on acquiring, enhancing and eventually selling businesses, had restarted talks to buy ECI earlier this week for under $1.9 billion.

The British company finalised the deal value at less than $1.9 billion on Friday, which will be financed through debt facilities and a fully underwritten institutional capital raise at 3 pounds apiece.

($1 = 0.7373 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala)