Societe Generale, Copthall Mauritius buy Samvardhan Motherson shares as Sumitomo Wiring sells

Societe Generale bought 528,01,250 equity shares of the company at an average price of ₹70 while Copthall Mauritius Investment purchased 443,00,000 shares on March 16, 2023 at an average price of ₹70 per share, as per the NSE bulk deals data.

Japan’s Sumitomo Wiring Systems on Thursday offloaded a 3.4% stake in Samvardhana Motherson International for ₹1,612 crore through an open market transaction. Sumitomo Wiring Systems (SWS) is a promoter entity in Samvardhana Motherson International (SAMIL). The shares were disposed of at an average price of ₹70.1 apiece, taking the transaction value at ₹1,612.

On the other hand, Samvardhana Motherson on Thursday announced that the board has approved the acquisition of remaining 50 per cent stake of Fritzmeier Motherson Cabin Engineering Private Limited from F Holdings GmbH, Austria. The acquisition is for a cash consideration of for ₹110.7 crore. The transaction is expected to be closed on or before 31 March 2023.

“The Board of Directors of Samvardhana Motherson International Limited (formerly Motherson Sumi Systems Limited) (the “Company”) at their meeting held on March 16, 2023 approved to acquire remaining 50% stake of Fritzmeier Motherson Cabin Engineering Private Limited from F Holdings GmbH, Austria, subject to satisfactory completion of conditions precedent. Post completion of the transaction, Fritzmeier Motherson Cabin Engineering Private Limited will become wholly owned subsidiary of the Company,” said Samvardhana Motherson in its filing.