India’s Motherson Sumi buys Finland’s PKC Group for $619 mn
Reuters, New Delhi |
Reuters Mar 27, 2017 10:21 AM IST
Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland’s PKC Group for 571 million euros ($619.4 million).
Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland’s PKC Group for 571 million euros ($619.4 million).
Motherson is now the controlling shareholder of PKC Group, holding 93.75% of PKC’s outstanding shares and stock options.
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“There is a great synergy between MSSL & PKC and a complementary geographical presence to serve the customers in all regions,” Motherson said in a statement.
Shares of Motherson, which have gained 12% since the deal was made public on Jan. 20, were trading slightly higher on Monday.
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