Samvardhana Motherson Group to acquire mirror business of Ichikoh Industries

SMR Automotive Mirrors UK, United Kingdom (SMR UK), a 100% step down subsidiary of Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), has entered into a Share Purchase Agreement (Agreement) with Ichikoh Industries, Japan (Ichikoh) for the acquisition of 100% equity share capital held by Ichikoh in Misato Industries Co., Japan and Ichikoh (Wuxi) Automotive Parts Co., China. SMRP BV is a material and 100% subsidiary of Samvardhana Motherson International (formerly Motherson Sumi Systems).

The closing of the transaction is subject to completion of customary conditions precedent and expected to be completed in next 6 (six) to 8 (eight) months.

The completion of this transaction will provide Samvardhana Motherson Group with strong local R&D and manufacturing footprint, further strengthening group's relationship with Japanese OEMs. The transaction further strengthens the Group's presence in China.

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