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Auto component maker Autoline Industries has said that it has acquired 49% stake in two Italian firms for an undisclosed amount. The company has also entered into an agreement with Luxembourg-based Icon Develpoment SA to increase its shareholding in the latter to 60%. In a filing to the BSE, Autoline Industries said its wholly owned subsidiary, Koderat Investments has "acquired 49% equity share capital of SZ Design Srl and Zagato Srl". Zagato is a Milan-based automotive design company which has worked for companies such as Ferrari, Maserati, Bugatti, Bentley, Rolls Royce, Jaguar and Lamborghini, it said.

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