India’s Motherson Sumi buys Finland’s PKC Group for $619 million
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Indian auto parts maker Motherson Sumi Systems Ltd said on Monday it had completed the buyout of Finland’s PKC Group for 571 million euros ($619.4 million).
Motherson is now the controlling shareholder of PKC Group, holding 93.75 percent of PKC’s outstanding shares and stock options.
“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 percent since the deal was made public on Jan. 20, were trading slightly higher on Monday.
Questions & Answers
Q.What percentage of PKC Group does Motherson Sumi now control?
What percentage of PKC Group does Motherson Sumi now control?
Motherson Sumi Systems Ltd is now the controlling shareholder of PKC Group, holding 93.75 percent of its outstanding shares and stock options following the acquisition.
Q.What is the primary reason given for Motherson Sumi's acquisition of PKC Group?
What is the primary reason given for Motherson Sumi's acquisition of PKC Group?
Motherson stated that there is a significant synergy between the two companies. Their geographical presence is also complementary, allowing them to serve customers in all regions effectively.
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