Acquisitions25 Mar 2025, 12:57 am
Samvardhana Motherson Completes 51.99% Stake Acquisition in Atsumitec Co., Ltd.
AI Summary
Samvardhana Motherson International Limited has provided an update on the acquisition of Atsumitec Co., Ltd. (‘ATC’) via a 100% subsidiary of Samvardhana Motherson Automotive Systems Group B.V. Motherson Global has now completed the acquisition of 51.99% stake (voting rights basis) in ATC from the special purpose company on March 24, 2025, upon completion of conditions precedent. The remaining steps of the transaction, including the buyback of Honda Motor shareholding in ATC and the purchase of stake in Atsumitec Indonesia, are expected to be completed by March 31, 2025.
Key Highlights
- Samvardhana Motherson International Limited has completed the acquisition of a 51.99% stake in Atsumitec Co., Ltd.
- The acquisition is carried out via a 100% subsidiary of Samvardhana Motherson Automotive Systems Group B.V.
- The remaining steps of the transaction are expected to be completed by March 31, 2025.
- The acquisition update is provided in reference to a letter dated December 6, 2024.
- Motherson Global has completed the acquisition upon completion of conditions precedent.