CCI nod for intra-group reorganisation of the Motherson Group

Our Bureau Updated - May 27, 2021 at 08:09 PM.

MSSL will be renamed as Samvardhana Motherson International

An employee walks past machines used to make auto parts at the factory of the Samvardhana Motherson Group, an auto components making company, in Noida May 5, 2011. Large local auto parts makers are forming joint ventures to boost their technological know-how and expand product range as the largely fragmented sector is at full capacity and facing a capital crunch. Samvardhana Motherson Group, which runs flagship Motherson Sumi Systems Ltd , is conducting eight due diligences across the globe for acquisitions and JVs. Picture taken May 5, 2011. REUTERS/Adnan Abidi (INDIA - Tags: TRANSPORT BUSINESS SCI TECH)

The Competition Commission of India (CCI) has given “deemed approval “ to a green channel notice filed for an intra-group reorganisation of the Motherson Group. The notice was filed by Motherson Sumi Systems Limited (MSSL), Samvardhana Motherson International Limited (SAMIL), and Sumitomo Wiring Systems Limited (SWS).

The proposed combination is envisaged through following steps: MSSL’s entire domestic wiring harness undertaking (DWH Undertaking) will be demerged into a newly incorporated wholly-owned subsidiary of MSSL i.e., Motherson Sumi Wiring India Limited (MSWIL); and SAMIL will be amalgamated by absorption into MSSL, being the resultant company. Subsequently, MSSL will be renamed as Samvardhana Motherson International Limited (New SAMIL), an official release said.

MSSL is the flagship company of the Motherson Group and is a leading automotive component manufacturer for original equipment manufacturers. MSSL is in the business of manufacturing automotive components (such as wiring harness), vision systems, moulded and polymer products, etc.

SAMIL is the largest shareholder of MSSL. SAMIL provides operational, strategic, and management support to all Motherson Group companies. SAMIL is inter alia engaged in the business of manufacturing automotive components and ancillaries, including automotive lighting systems, extruded and injection moulding tools and components, air intake manifolds etc. SWS (Indirect Acquirer) is a Japanese company. It manufactures and sells wiring harnesses for automobiles and their components, electric wires, and cables for automobiles, electronic components for automobiles as well as components for electric vehicles, the release added.

Published on May 27, 2021 13:56