Motherson acquires German auto parts firm SAS Autosystemtechnik | Auto & Travel News
2 min readMumbaiFeb 21, 2023 04:49 AM IST
Samvardhana Motherson Automotive Systems Group (SMRPBV) has signed an agreement to acquire Germany-based auto parts firm SAS Autosystemtechnik at an enterprise value of 540 million euros (around Rs 4,790 crore).
The transaction will be funded by a mix of debt and internal accruals. “The transaction remains subject to information or consultation with employee representatives. Completion of the envisaged transaction will be subject to customary regulatory approvals and would be expected by Q2 FY24 (July-Sept 2023),” the company said.
Vivek Chaand Sehgal, Chairman, Motherson said, “this acquisition will transform Motherson Group to be a leading assembler of cockpits modules globally, with special focus on EV models. We look forward to welcoming over 5,000 new members into the Motherson family.”
SAS is a leading global provider of assembly and logistics services for the automotive industry. The company’s gross revenues were 4.4 billion euros on principal basis with net revenues (IFRS) of 896 million euros for the year ended December 2022, with almost half of it contributed by EV programmes. The orders in hand already secured are of over 3 billion euros in cumulative net revenues over the next 3 years. It has more than 5,000 employees in 24 facilities across 12 countries (Argentina, Brazil, China, Czech Republic, France, Germany, Mexico, Portugal, Slovakia, Spain, Turkey and the USA).
© The Indian Express Pvt Ltd
