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Auto part maker Motherson Sumi buys Finland's PKC Group for $619 million

Motherson is now the controlling shareholder of PKC Group

Motherson Sumi


Auto parts maker Motherson Sumi Systems Ltd (MSSL) 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 per cent 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 per cent since the deal was made public on January 20, were trading slightly ...

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First Published: Mon, March 27 2017. 11:58 IST