India’s Motherson Sumi buys Finland’s PKC Group for $619 mn - Hindustan Times
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India’s Motherson Sumi buys Finland’s PKC Group for $619 mn

Reuters, New Delhi | ByReuters
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).

A file photo of workers assembling wire harnesses at the Motherson Sumi Systems Ltd. wiring harness plant in Faridabad.(Bloomberg)
A file photo of workers assembling wire harnesses at the Motherson Sumi Systems Ltd. wiring harness plant in Faridabad.(Bloomberg)

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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