April 13 (Reuters) - AMA Group AMA.AX 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 (NYSE:BX) Group BX.N 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)