Samvardhana Motherson plans $2 billion war chest to acquire Marelli: Report

The board of the Marelli, along with a special panel of its lenders are likely to meet this week, the report said, adding it could happen in the next 24 hours.

Indian auto parts makers Samvardhana Motherson is preparing a $2 billion war chest to beat Strategic Value Partners (SVP) for the purchase of Japanese car parts supplier Marelli Holdings that is owned by private equity group KKR & Co, a report by the Economic Times said on June 10.

The board of the Marelli, along with a special panel of its lenders are likely to meet this week, the report said, adding it could happen in the next 24 hours.

As of today, Marelli is on the loan books of SVP, a US distressed debt hedge fund, the newspaper said. Motherson Group, the Vivek Chaand Sehgal-led domestic firm, has a 50:50 joint venture with Marelli in India since 2008 for automotive lighting and shock absorbers, the paper said.

Moneycontrol could not independently verify the report.

Japanese auto component maker Calsonic Kansei had bought Italy's Magneti Marelli in 2019. Calsonic Kansei is a KKR portfolio company.

Earlier in 2022, it was reported that Motherson Group was in advanced talks to acquire the Italian auto components maker.