Samvardhana Motherson International to acquire SAS Autosystemtechnik GmbH

Through its subsidiary Samvardhana Motherson Automotive Systems Group BV

Samvardhana Motherson Automotive Systems Group BV (SMRPBV) a 100 % subsidiary of Samvardhana Motherson International (SAMIL) has entered into an agreement to acquire 100% stake in SAS Autosystemtechnik GmbH (Germany) (SAS) from Faurecia, a company of the FORVIA Group (an entity listed on Paris stock exchange). The acquisition is at an enterprise value of EUR 540 million.

SAS is a leading global provider of assembly and logistics services for the automotive industry. This strong market position is founded on deep technical expertise. It has strong customer relationships with leading European and American OEMs, some of which span almost 3 decades. The company's gross revenues were ~Euro 4.4 Bn on principal basis with net revenues (IFRS) of Euro 896 million for the year ended December 31st, 2022, with almost half of it contributed by EV programs. The orders in hand already secured are of over ~3 Bn Euro in cumulative Net Revenues over the next 3 years. It has more than 5,000 employees in over 24 manufacturing locations in Europe, Asia, and America.

The transaction will be another step further enhancing Motherson's integration in the global automotive supply chain and increase its customer proximity. With its strong capabilities in assembly, automation and logistics, SAS is well positioned to benefit from the secular trend of outsourcing of module assembly by OEMs to trusted suppliers.

The enterprise value of the business is Euro 540 million and the transaction will be funded by a mix of debt and internal accruals The transaction remains subject to information or consultation with employee representatives. Completion of the envisaged transaction will be subject to customary regulatory approvals and would be expected by Q2 FY24 (July-Sept 23)

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