Motherson Sumi shares up 4% on acquisition deal with German co

Shares of Motherson Sumi Systems rose by 4 per cent today following reports that the company will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore.
Stocks of the automotive parts maker jumped 3.96 per cent to Rs 420 on the BSE.
On the NSE, it rose by 3.96 per cent to Rs 419.90.
Motherson Sumi Systems will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore, a move that will help the company to offer a diverse polymer products.
The consideration payable is about 36 million euros (about Rs 283 crore) for the assets including land, building and inventories along with its shareholding in Mexican entities.

"This acquisition includes two manufacturing facilities situated at Michelau (Germany) and Puebla (Mexico)," Motherson Sumi had said in a statement yesterday.
The acquisition would further consolidate Motherson Sumi System's "polymer business in Europe and North America".