Shares of Motherson Sumi Systems ended 2 per cent higher today following reports that it will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore.
The stock of the automotive parts maker settled with a gain of 2.02 per cent at Rs 412.15 on the BSE. In intra-day trade, it jumped 3.96 per cent to Rs 420.
On the NSE, it rose by 2.01 per cent to end at Rs 412.
In terms of volume, 2.27 lakh shares of the company changed hands at the BSE, while over 22 lakh shares were traded at the NSE during the day.
Motherson Sumi Systems will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore, a move that will help the company to offer a diverse polymer products.
The consideration payable is about 36 million euros (about Rs 283 crore) for the assets including land, building and inventories along with its shareholding in Mexican entities.
"This acquisition includes two manufacturing facilities situated at Michelau (Germany) and Puebla (Mexico)," Motherson Sumi had said in a statement yesterday.
The acquisition would further consolidate Motherson Sumi System's "polymer business in Europe and North America".
