Samvardhana Motherson To Buy Remaining 25% Stake In Two Turkish JVs 

Samvardhana Motherson International Ltd. on Thursday said its board has approved the acquisition of the remaining 25% stake in two Turkish joint ventures from Plast Met group founder Erol Senol for €3.23 million. The acquisition will be done through SMR Automotive Mirrors Stuttgart GmbH, a wholly-owned indirect subsidiary, the company said in an exchange filing.

The two companies—SMR Plast Met Molds and Tools Turkey, and SMR Plast Met Automotive Tec Turkey—will become wholly-owned indirect subsidiaries of SAMIL. It had acquired a 75% stake in 2021.

The units produce injection moulded parts and sub-assemblies for mirrors, trim modules, and lighting systems. SAMIL said the acquisition will allow it to fully benefit from future growth and strengthen its manufacturing footprint in the region. The deal is expected to close by September 30, pending regulatory clearances.