| Samvardhana Motherson Automotive Systems Group B.V. (SMRP BV), a wholly owned material subsidiary of Samvardhana Motherson International has completed the acquisition of identified
assets and certain employee liabilities of the German entities of Dr. Schneider Holding GmbH; 100% shares in the foreign subsidiaries of Dr. Schneider group in Spain, China, USA and Poland on 02 October 2023.
Further, the acquisition of 21% shareholding in Symbiose SAS (part of Dr Schneider Group) will be formalized and completed post Closing Date for an amount not more than 50k Euros.
Dr. Schneider Group is a manufacturer of innovative, high-end interior components with global technology offerings, who filed for insolvency in September 2022. |