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