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Shares of Motherson Sumi Systems jumped as much as 5.2 per cent to the highest since February 16 as the company had on Monday said it would buy France’s Reydel Automotive Group (Reydel) for $201 million.
The acquisition will be carried out through the auto component maker’s step-down subsidiary, Samvardhana Motherson Automotive Systems Group BV.
According to brokerages, the deal would help the unit to expand across geographies. Up to Monday close, the stock had fallen about 15 per cent this year.
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