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Yachiyo India Manufacturing, the Indian subsidiary of
Yachiyo Industry Co. Limited, is to be fully acquired by Samvardhana Motherson
International Limited (SAMIL) through its subsidiary MSSL Mideast by March-end
2024. Yachiyo Industry Co. is engaged in production of automobile parts like
sunroofs, fuel tanks and resin products.
“MSSL Mideast (FZE) which is a 100 per cent subsidiary of
SAMIL will acquire 100 per cent of Yachiyo’s Indian subsidiary i.e. Yachiyo
India Manufacturing Private Limited (YIM). Subject to completion of other
ongoing conditions precedents for the transaction, the closing is now expected
to be completed within March 2024,” Samvardhana Motherson said in a regulatory
filing on March 19, 2024.
As per the regulatory filing, this acquisition is part of a
deal between Samvardhana Motherson and Honda Motor Co Limited.
According to a regulatory filing by Samvardhana Motherson
International Limited (SAMIL) dated November 21, 2023, Honda Motor which owned
50.4 per cent stake in listed entity Yachiyo would buy out the entire public
stake in Yachiyo and make it a wholly-owned subsidiary. “Subsequently, SAMIL
will acquire 81 per cent equity in remaining Yachiyo 4W business thereby
forming an 81:19 joint venture with Honda Motor,” SAMIL said in the regulatory
filing dated November 2023.
However as part of this deal Yachiyo’s 2W business (housed
under Goshi) will get transferred to Honda Motor.
Samvardhana Motherson had stated in its regulatory filing
dated March 19, 2024, “Post completion of the tender offer, Honda Motor had
acquired the remaining stake in Yachiyo thus making the company a wholly-owned
subsidiary of Honda Motors. This acquisition is done via a squeeze out process
as defined by the Japanese regulations on January 12, 2024.”
The transaction will be executed through SAHN B.V., a wholly-owned subsidiary of Samvardhana Motherson Automotive Systems Group B.V. (SMRP B.V.).
Read moreFollowing the results, Samvardhana Motherson's shares fell by as much as 4.5%, closing 2.8% lower at Rs 182.9. Despite this decline, the stock has gained 70% in 2024.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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