Samvardhana Motherson Automotive Systems, a subsidiary of Samvardhana Motherson International Limited, has fully acquired SMR Jersy, increasing its stake to 100% in the latest 1.55 percent stake purchase. According to Samvardhan Motherson International Ltd’s most recent exchange filing, its subsidiary Samvardhana Motherson Automotive Systems purchased an additional 1.55 percent stake in SMR Jersy for 18.4 million Euro. SMR Jersy has become a subsidiary of Samvardhana Motherson International as a result of this stake purchase.
Samvardhan Motherson International notified Indian stock exchanges of the development, citing, “Samvardhana Motherson Automotive Systems Group B.V., Netherlands (‘SMRP B.V.’), a material subsidiary of Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (‘the Company,’ has purchased an additional 1.55% stake in Samvardhana Motherson Reflectec Group Holdings Limited (‘SMR Jersey’) from an independent third party for Euro 18.4 million. SMR Jersey has become a 100% subsidiary of SMRP B.V. following the acquisition of the aforementioned 1.55% stake.”
This is the company’s largest investment in the last two days. On March 4th, the company informed Indian stock exchanges of its additional investment in one of its subsidiaries, Motherson Technology Services Limited, or MTSL. It increased its stake in MTSL from 62.9 percent to 90.4%.
Samvardhan Motherson International informed Indian stock exchanges of its intention to increase its stake in MTSL, citing, “This is to inform you that Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (the “Company”) has increased its investment in the equity shares of Motherson Technology Services Limited (formerly MothersonSumi INfotech & Designs Limited) (‘MTSL”), the Company’s subsidiary. As a result, the Company’s holding has increased from 62.9% to 90.4% of MTSL’s total paid-up share capital.”