Auto parts maker Motherson Sumi Systems said on Monday the deal to buy a majority stake in Germany's Peguform Group was valued at 141.5 million euros with the firm's share being 72.17 million euros.
The company said it will fund the deal through overseas loans and has appointed ICICI Bank as the lead arranger. The deal is expected to be closed by end-September. Peguform makes and distributes bumper systems, plastic components for vehicle exteriors, cockpits, dashboards and vehicle interior trims. Motherson Sumi said last week it would buy a majority stake in German Peguform Group, from Cross Industries, who would retain 20% holding.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
