The board of Motherson Sumi Systems has approved the acquisition of Visiocorp’s global rear view mirror business.
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The acquisition is being made together with Samvardhana Motherson Finance through a special purpose vehicle (SPV) in which Motherson Sumi will hold 51% and Samvardhana the rest, according to Reuters.
The EUR700m revenue global rear view mirror business will be acquired by the SPV with proposed capital of EUR30m.
