Motherson Sumi buys 80% in German firm

Leading auto component-maker Motherson Sumi Systems Ltd (MSSL) on Wednesday said it will acquire an 80% stake in Germany’s Peguform Group from Cross Industries AG for an undisclosed sum.

Leading auto component-maker Motherson Sumi Systems Ltd (MSSL) on Wednesday said it will acquire an 80% stake in Germany’s Peguform Group from Cross Industries AG for an undisclosed sum.

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The acquisition will be carried out jointly with group firm Samvardhana Motherson Finance Ltd, the company said.
The acquisition would be carried out through a special purpose vehicle in which MSSL will hold 51% and Samvardhana will hold a 49% share, it said.