As per media report, Indian auto component supplier Motherson Sumi Systems Limited is in early stages of discussions with Germany-based Leoni for a possible amalgamation.
The probable amalgamation with Leoni could be estimated in excess of one billion Euros. However, there have been no more concrete details on the actual financing of the same.
However, Shares react positively with this development. Motherson Sumi System’s share price quotes at Rs. 168 up by 3.90 percent on NSE during mid-market trade, Friday. The script opened at Rs. 166 and it touched a high and low of Rs. 179 and Rs. 163, respectively. Meantime, key benchmark indices Sensex and Nifty trade flat at 35922 and 10792 levels respectively.