Samvardhana Motherson Car Techniques Team BV (SMRPBV) on Sunday mentioned it has inked a pact to obtain Germany-based SAS Autosystemtechnik GmbH at an undertaking worth of 540 million euros (round Rs 4,790 crore).
The corporate, a unit of Samvardhana Motherson Global Ltd (SAMIL), has entered into an settlement with FORVIA Team company Faurecia to obtain SAS Autosystemtechnik.
“The undertaking worth of the trade is Euro 540 million and the transaction will likely be funded by way of a mixture of debt and inner accruals,” SMRPBV mentioned in a commentary. The transaction stays matter to knowledge or session with worker representatives, it added.
Finishing touch of the envisaged transaction will likely be matter to normal regulatory approvals and is predicted by way of the second one quarter of FY24, the corporate mentioned.
“We now have all the time added new merchandise and applied sciences to carefully serve our shoppers in a extra cohesive approach. The purchase of SAS is a very powerful step on this path,” Motherson Chairman Vivek Chaand Sehgal famous.
With this acquisition, the corporate will likely be much more diverse within the buyer base and merchandise, he added.
“This acquisition will become Motherson Team to be a number one assembler of cockpits modules globally, with a different center of attention on EV fashions. We look ahead to welcoming over 5,000 new contributors into the Motherson circle of relatives,” Sehgal mentioned.
SAS gives meeting and checking out answers around the automobile worth chain. It has 24 amenities throughout 12 international locations (Argentina, Brazil, China, Czech Republic, France, Germany, Mexico, Portugal, Slovakia, Spain, Turkey, and the United States). The corporate’s gross revenues on a main foundation had been Euro 4.4 billion and internet earnings (IFRS) of Euro 896 million for the 12 months ended thirty first Dec 2022.