Acquisitions19 Jun 2025, 06:25 pm
Samvardhana Motherson International to Acquire Remaining 25% Stake in Two Joint Ventures in Turkey
AI Summary
Samvardhana Motherson International Limited (SAMIL) has approved the acquisition of the remaining 25% stake in SMR Plast Met Molds And Tools Turkey Kalip Imalat Anonim Sirketi and SMR Plast Met Automotive Tec Turkey Plastik Imalat Anonim Sirketi. These entities are joint ventures between SMR Automotive Mirrors Stuttgart GmbH, a wholly owned indirect subsidiary of SAMIL, and Mr. Erol Senol, the founder of Plast Met Group. The acquisition will make the Target Companies 100% wholly owned indirect subsidiaries of SAMIL. The combined revenues of the Target Companies were Euro 27.30 Mn in FY2024-25. The acquisition is expected to be completed by FY2025-26 Q2, i.e., September 30, 2025, subject to regulatory approvals.
Key Highlights
- Samvardhana Motherson International to acquire remaining 25% stake in two joint ventures in Turkey.
- Target Companies are engaged in manufacturing of injection moulded parts, sub-assemblies for mirrors, trim modules and lighting systems.
- Combined revenues of Target Companies were Euro 27.30 Mn in FY2024-25.
- Acquisition expected to be completed by FY2025-26 Q2, i.e., September 30, 2025, subject to regulatory approvals.
- Target Companies will become 100% wholly owned indirect subsidiaries of SAMIL post acquisition.