Motherson Sumi agrees to buy Reydel for US$ 201 million
Motherson Sumi Systems group company inks deal to acquire global auto component firm Reydel Automotive Group from Cerberus Capital Management.
Reydel is engaged in the manufacture of interior components and modules for auto majors. The transaction price is US$ 201 million. The company was privately held by Cerberus Capital Management. The company's portfolio includes Cockpit Modules, Console Modules, Decorative Parts Door Panels and Instrument Panels. The company's provisional revenue was US$ 1,048 million and EBITDA was at US$ 68 million for the year ended Dec 31, 2017.
The acquisition will expand Motherson's interior component business segment and help diversify further across new geographies.
At 10:34 hours, Motherson Sumi was quoting Rs. 338.15 per share, up by Rs. 13.90 or 4.29 per cent, while BSE Sensex was at 33,203.60, down 51.76 points or 0.16 per cent, on Tuesday.