On the rationale behind the acquisition, the company said Motherson will become a Tier 1 to Aerospace OEM (Original Equipment Manufacturer) and proximity to OEM would open further avenues for growth.
Motherson Sumi said net debt increased by 7.7 percent to Rs 4,632 crore at the end of June 2016 from Rs 4,301 crore in March quarter as SMRP BV raised 5.5 years bonds of USD 300 million at 4.875% per annum in June.
Auto ancillary company Motherson Sumi Systems (MSSL) has bagged biggest ever orders from the German automobile manufacturer for the supply of exterior and interior systems for Mercedes-Benz.
"Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), company‘s subsidiary and joint venture with Samvardhana Motherson International has signed an agreement for purchase of assets of Scherer & Trier group (S&T), Germany from its administrator through its step down subsidiaries," said the company in its filing.