India's Motherson Sumi buys Finland's PKC Group for $619 million | Reuters

Indian 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 percent of PKC's outstanding shares and stock options

Reuters March 27, 2017 21:53:30 IST
India's Motherson Sumi buys Finland's PKC Group for $619 million
| Reuters

Indias Motherson Sumi buys Finlands PKC Group for 619 million
 Reuters

Indian 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 percent of PKC's outstanding shares and stock options. (bit.ly/2nYp6nk)

"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 percent since the deal was made public on Jan. 20, were trading slightly higher on Monday.

($1 = 0.9219 euros) (Reporting By Darshana Sankararaman in Bengaluru; Editing by Amrutha Gayathri)

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