In a regulatory filing with the stock exchanges about the outcome of the Hon’ble NCLT convened shareholder meeting, Motherson Sumi Systems Ltd. (MSSL) informed that the public shareholders (non-promoter) voted in favour of the proposal with an overwhelming majority. It is said to have paved the way for the successful completion of the proposed restructuring. 99.44 per cent of the[Read More…]
To simplify the group structure, Motherson Sumi Systems Ltd. (MSSL) recently approved a group reorganisation plan. The plan entails a demerger of the Domestic Wiring Harness (DWH) business from MSSL into a new company, in the process of being incorporated as a wholly-owned subsidiary of MSSL. Approved with an objective to help business grow across product portfolios within the auto[Read More…]
Motherson Sumi Systems Limited (MSSL) has signed an agreement to acquire the Wiring harness business of Stoneridge Inc. through asset purchase at transaction value of US $ 65.7 million. This acquisition is expected to close in the third quarter of 2014, subject to customary closing conditions. The acquired business has a turnover of approx. USD 300 Million. The transaction includes[Read More…]
