M&A

M&A

Samvardhana Motherson to buy Germany-based, EV focused auto components maker SAS for Rs.4,790-Cr

BSE Disclosure   Business Standard  

Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a unit of publicly listed Samvardhana Motherson International Ltd (SAMIL), is to acquire Germany-based SAS Autosystemtechnik GmbH at an enterprise value of 540 million euros (around INR 4,789 crore) from French company Faurecia. The transaction will be funded by a mix of debt and internal accruals. The deal is expected to close by the second quarter of FY24. SAS offers assembly and testing solutions across the automotive value chain with electric vehicle business constituting nearly half of the net revenues. It manufactures cockpit modules and other components for EVs of auto majors such as Volkswagen, Å koda Auto, Mercedes-Benz, Porsche, Audi, and Chrysler. The company posted gross revenues of 4.4 Billion on a principal basis and net revenue (IFRS) of 896 million euros for the year ended 31st Dec 2022. About 60% of SAS' revenues come from Europe, 31% from the Americas, and 9% from China. SAS employs about 5,000 people at 24 manufacturing facilities across 12 countries (Argentina, Brazil, China, Czech Republic, France, Germany, Mexico, Portugal, Slovakia, Spain, Turkey, and the US). This acquisition is expected to transform Motherson Group as a leading assembler of cockpit modules globally, with a special focus on electric vehicle (EV) models.