BENGALURU : Indian auto parts maker Samvardhana Motherson International (SMIL) said on Tuesday it will buy a majority stake in Japan-based auto-part maker Yachiyo Industry's four-wheeler business from Honda Motor Co to expand its product range. The transaction is valued at 22.9 billion Japanese yen ($15
BENGALURU : Indian auto parts maker Samvardhana Motherson International said on Tuesday it will buy a majority stake in Japan-based auto-part maker Yachiyo Industry's four-wheeler business from Honda Motor Co to expand its product range.
Honda currently owns a 50.4 per cent stake in Yachiyo. As part of the transaction, Honda will first buy out the entire public stake in Yachiyo via a tender offer and retain Yachiyo's two-wheeler business. "The close proximity to Honda Motor plants across the globe provides an opportunity to offer existing products of Motherson to Honda Motor globally," SMIL added.
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