Motherson Sumi to buy controlling stake in Peguform

ERJ staff report (DS)

Mumbai, India --Motherson Sumi Systems has in principle

agreed to buy 80 percent of the

shareholding of Peguform Group, Germany from Cross

Industries AG. Cross industries would continue to hold

20 percent shareholding.

The acquisition would be made through a joint venture in

which Motherson Sumi Systems Limited would hold 51 percent

and Samvardhana Motherson Finance Limited would

hold 49 percent share.

Established in 1959 as Badische Plastikwerke, Peguform is an international supplier involved in

development, manufacture and distribution of bumper

systems, plastic components for vehicle exteriors, vehicle

cockpits, dashboards and vehicle interior trims.

The company is the 2nd largest supplier of door panels and

the 3rd largest supplier of Instrument Panels in Germany.

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Presentation on acquisition from Motherson SUmi Group