Samvardhana Motherson arm to buy Cirma SAS
Auto components maker Samvardhana Motherson International Ltd on Thursday said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7.2 million euros (nearly ?65 crore). Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has signed a binding undertaking to acquire a 100% stake in Cirma Entreprise from Vinci Energies France, Samvardhana Motherson International said in a regulatory filing.
Cirma Entreprise is into aerospace, shipbuilding and allied industries. The cost of acquisition is pegged at an enterprise value of 7.2 million euros, it added.
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