Samvardhana Motherson International has received an approval to acquire 100% stake of Samvardhana Motherson Adsys Tech from Motherson Auto, subject to satisfactory completion of conditions precedent. Post completion of the transaction, Samvardhana Motherson Adsys Tech will become wholly owned subsidiary of the Company.
The Board of Directors of the Company at their meeting held on October 20, 2023 approved the same. Subject to satisfactory completion of conditions precedent to closing, the transaction is expected to be closed in Q3 FY24.
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.
