Motherson Sumi to acquire 80% in Peguform;stk down

MUMBAI: Motherson Sumi will acquire 80 per cent stake in Peguform Group, Germany from Cross Industries AC, who would continue to hold 20 per cent shareholding. The acquisition would also include 50 per cent holding in Wethje Carbon Composite which is a part of Cross Industries.

The acquisition would be made through a joint venture company in which Motherson Sumi would hold 51 per cent and Samvardhana Motherson Finance would hold 49 per cent stake.

The stock was at Rs 232.55, down 2.84 per cent on the BSE. It slipped to intraday low of Rs 227.70 after hitting a new high of Rs 256 in trade so far.