Sojitz Corporation has divested a 2.35 per cent stake in Samvardhana Motherson International for Rs 776 crore through an open market transaction. According to the bulk deal data available with BSE, Sojitz Corporation offloaded 10,61,88,248 shares, amounting to 2.35 per cent stake in the company.
The shares were sold at an average price of Rs 73.11 apiece, taking the transaction value at Rs 776.34 crore. Post the latest transaction, Sojitz Corporation shareholding has decreased to 1.11 per cent from 3.46 per cent stake in the company.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
