Samvardhana Motherson to acquire German cockpit module integrator for €540-million

21 Feb 2023 , 02:40 PM

Samvardhana Motherson Automotive Systems Group BV (SMRPBV), the wholly owned subsidiary of Samvardhana Motherson International Limited (SAMIL) has agreed to buy Faurecia’s entire stake in SAS Autosystemtechnik GmbH, a French automotive supplier at an enterprise value of €540 million ($577.5 million).

This transaction will strengthen Motherson’s position in the global automotive supply chain and increase its customer proximity. The company will fund this transaction with a mix of debt and internal accruals, and the anticipated acquisition should be completed by Q2 of FY24, subject to usual regulatory approvals (July-September 23), as per the reports submitted by it.

Vivek Chaand Sehgal, Chairman, Motherson, commented on the deal that, with a focus on EV vehicles, this acquisition will make Motherson Group a prominent global assembler of cockpit modules.

‘By adding complementing capabilities which SAS brings, we will be able to further enhance our tier 0.5 position with our customers. With this acquisition, we will be even more diversified in our customer base and products. 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,’ Sehgal said.